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MultifamilyTexas

BERKELEY POINT SECURES $58.8M CREDIT FACILITY ADDITION

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HOUSTON — Berkeley Point Capital has closed a $58.8 million credit facility addition on an existing $80 million credit facility funded in August 2011. The nine-year advance recently funded the acquisition of the 309-unit Metro at Greenway, a Class A apartment community located adjacent to Greenway Plaza in Houston. The apartment community features a pool plaza, infinity spa, poolside terrace, courtyard, orange grove, summer kitchen, 24-hour fitness center, locker room, saunas, tanning bed, demonstration kitchen, resident lounge, coffee bar and parking garage with remote control access. The advance also funded the acquisition of the 114-unit Zoso Flats in Arlington, Va. Mitch Clarfield of Berkeley Point arranged the credit facility addition on behalf of the sponsor, Simpson Housing Fund I, a joint venture between Denver-based Simpson Housing LLLP and an East Coast-based pension fund.

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OfficeTexas

JLL BROKERS SALE OF HOUSTON OFFICE BUILDING

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HOUSTON — Jones Lang LaSalle has arranged the sale of 12301 Kurland, a four-story, 195,525-square-foot office building in Houston's Gulf Freeway submarket. Rudy Hubbard and Kevin McConn of Jones Lang LaSalle represented the seller, Capital Commercial Investments, in the transaction. Paul House and John Ream of Jones Lang LaSalle secured a 10-year senior mortgage CMBS loan through Deutsche Bank on behalf of the buyer, Mission Cos. The property is 92 percent leased to five tenants.

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CivicTexas

CADENCE MCSHANE COMPLETES TWO SCHOOL PROJECTS

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SANTE FE — Cadence McShane Construction Co. has completed the repurposing of the existing 45,612-square-foot Cowan Elementary School and the renovation/addition for the 108,800-square-foot Sante Fe Junior High School, both of which are part of the Sante Fe Independent School District (ISD). Cadence McShane has converted Cowan Elementary into the new Elizabeth Yaws Cowan Education Center, which will serve as the administration facility for Sante Fe ISD. The education center has an updated boardroom, expanded office space and a new technology center. The renovation project at Sante Fe Junior High included the reconstruction of the existing 99,000 square feet of space plus a 9,800-square-foot addition. SBWV Architects provided the comprehensive architectural services for both projects.

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RetailTexas

SUNDANCE SQUARE IN FORT WORTH OPENS NEW RETAILERS

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FORT WORTH — Sundance Square, a 35-block commercial, retail, residential and entertainment district in downtown Fort Worth, has added several new retailers in time for the holiday season. Coyote, a women's boutique shop, has opened a 2,400-square-foot space at 317 Houston St.; Salata, a next-generation salad bar, has opened a store at 520 Commerce St.; and BB&T opened a 4,200-square-foot bank branch on the ground floor and 4,000 square feet of office space on the second floor of the Caceria Building at Fifth and Commerce streets. Additionally, Flowers to Go is set to open a 790-square-foot shop at 325 Houston St. in January and a two-story, 9,000-square-foot Del Frisco's Grille is coming to the plaza, which is slated for an October 2013 completion.

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