GROVE, OKLA. — Virginia Beach, Va.-based Wheeler Real Estate Investment Trust has purchased a 31,705-square-foot, freestanding retail property in Grove for $4.55 million. The property is fully leased to Harps Food Stores. The initial term of Harps' lease is 20 years and expires in June 2032. This acquisition brings Wheeler's portfolio to nine properties in four states.
SAN ANTONIO — Dougherty Mortgage has closed a $9.26 million acquisition loan for the 276-unit Sierra Vista, a multifamily community located in San Antonio. Dougherty's Minneapolis office secured the 10-year loan on behalf of the borrower, San Antonio M3-06, LLC.
AUSTIN, DALLAS AND HOUSTON — Investcorp, an international alternative asset manager, has acquired a portfolio of five multifamily properties in Austin, Dallas and Houston for more than $100 million. Three of the five properties are located in Houston and the other two are located in Austin and Dallas. The properties have an average 91 percent occupancy. Mosaic Residential Management manages four of the five properties and The Carroll Organization manages the other. The Carroll Organization has also taken a joint venture interest alongside Investcorp in one of the Houston properties.
CEDAR PARK — MVP REIT has acquired a 376-unit self-storage facility in Cedar Park for $3.5 million in an all-cash transaction. The 52,000-square-foot property was built in 2000 and is more than 90 percent occupied. Additionally, MVP REIT will begin to initiate monthly cash distributions to stockholders beginning in January 2013.
FARMERS BRANCH — Stream Realty Partners has arranged the sale of the 181,961-square-foot One Colinas Crossing, a six-story office building located in Farmers Branch. JDA Software occupies 50 percent of the property, and the buyer, TIB-The Independent BankersBank, will move its headquarters to the remainder of the property. Jamie Jennings and Keith Fisher of Stream Realty Partners represented the seller, PacTrust, in the transaction. Robert Deptula of Transwestern represented the buyer.
DALLAS — UCR Investment Sales has secured the sale of Gaston Place, a 33,759-square-foot shopping center located at the intersection of Gaston and Haskell avenues in Dallas. Gaston Place's tenants include T-Mobile, Carter BloodCare and State Farm Insurance. Office Depot formerly occupied the 23,102-square-foot anchor store. Tommy Tucker of UCR represented the seller, Greenway Investment Co., in the transaction. Tucker also procured the buyer, an affiliate of Dallas-based Easton Realty Partners.
MANSFIELD — Marcus & Millichap has brokered the sale of the 10,730-square-foot Lowes Farm Market-North, a shopping center located at 3807 E. Broad St. in Mansfield. Vincent Knipp of Marcus & Millichap's Fort Worth office secured and represented the buyer, a local investment company, in the transaction.
SAN ANTONIO — A partnership between Atlas CP, Fort Worth-based Panther Transaction Group and Austin-based Barton Creek Capital has purchased a 691,866-square-foot industrial portfolio, located in northeastern San Antonio. Jason Pumpelly of Johnson Capital assisted in the mortgage financing.
HOUSTON — Jones Lang LaSalle has arranged the sale of 4295-4299 San Felipe, two office buildings totaling 92,499 square feet in Houston's Galleria submarket. Rudy Hubbard and Kevin McConn of Jones Lang LaSalle represented the seller, Morrison Karsten Group, in the transaction. The buyer was Equitas Commercial Real Estate Holdings.
HOUSTON — ARA has brokered the sale of the 250-unit, Class A Harbor View, a luxury multifamily community located in the Kingwood suburb of northeast Houston. The apartment community is located in the 14,000-acre King's Harbor mixed-use development, which is adjacent to Lake Houston. Harbor View is 91 percent occupied. Matthew Rotan, David Oelfke, David Wylie and David Mitchell of ARA's Houston office represented the seller, New York City-based JP Morgan, in the transaction. Atlanta-based Cortland Partners was the buyer.