IRVING — Walker & Dunlop has arranged $9 million in acquisition financing for the 320-unit Glen Arbor Apartments, located in Irving. The garden-style apartment community is currently 95 percent occupied and features a clubhouse, fitness center, two swimming pools and three laundry facilities. Alex Inman of Walker & Dunlop arranged the 10-year loan with a 30-year amortization schedule through Fannie Mae's Early Rate Lock Program.
FORT WORTH — Marcus & Millichap Capital Corp. (MMCC) has arranged a $7.8 million loan for a 316-unit multifamily property in Fort Worth. The community is currently 94 percent occupied. Brian Adams of MMCC's Dallas office arranged the acquisition financing on a 10-year term with a 30-year amortization schedule.
COLLEGE STATION AND MARBLE FALLS — Duke Realty plans to develop two medical office buildings in College Station and Marble Falls for Scott & White Healthcare. Duke will develop a three-story, 66,500-square-foot Scott & White Specialty Care Clinic at the Wayne & Eileen Hurd Regional Medical Center at the intersection of U.S. Highway 281 and State Highway 71 in Marble Falls. The facility will house multiple primary care, urgent care and specialty/diagnostic clinics. Duke will also develop an adjacent 60-bed hospital. In addition, Duke will also develop a four-story, 120,000-square-foot College Station Clinic at the campus of a planned 143-bed acute care hospital at the intersection of State Highway 6 and Rock Prairie Road in College Station. The hospital will house OB/Gyn services, general surgery, orthopedic surgery, expanded rehabilitation/therapy services and a sleep center. The Marble Falls clinic is expected to open in the first quarter of 2013 and the adjacent hospital is slated for a fall 2014 opening. The College Station clinic is expected to be completed in the third quarter of 2013. Pasadena, Calif.-based Jacobs Engineering Group is designing both clinics, DPR Construction is the general contractor for the Marble Falls clinic and Kitchell Contractors is the general …
DALLAS — Greensboro, N.C.-based Bell Partners has acquired the 214-unit Alta 1900 Lofts, located in Dallas' Design District. The facility will be rebranded as Bell Design District. The amenities of the facility include a 24-hour fitness center, media center and a resort-style swimming pool with an underwater sound system. Bell has acquired more than $330 million in apartment properties in 2012. The purchase was made through Bell Apartment Funds IV.
PLANO AND FORT WORTH — Dallas-based Westmount Realty Capital has purchased the 45,805-square-foot Krona Business Park, located at 625 Krona Drive in Plano, and a 96,400-square-foot warehouse located at 1401-1424 Northpark Drive near downtown Fort Worth. The Plano facility is fully leased and the Fort Worth facility is 35 percent leased to four tenants. Westmount purchased the facilities in partnership with Tom Wiegand of Eastlake Partners.
AUSTIN — HFF has arranged the sale of the 324-unit, Class A Deerfield Apartments, located at 8700 Brodie Lane in southwest Austin. The apartment community is currently 97 percent occupied. Sean Sorrell led the HFF team to represent the seller, Nevins Adams Lewbel Schell, in the transaction. Austin-based Falcon Southwest was the buyer.
DALLAS — Beech Street Capital has closed $19.3 million in Fannie Mae loans to refinance a Class B, three-apartment property portfolio totaling 720 units in Dallas/Fort Worth. Larry Sneathern of Beech Street's Dallas office arranged the 10-year loans with seven years of field maintenance.
ADDISION — Regions Bank has sold the 79,481-square-foot Westgrove Air Plaza, a two-story office building located on land leased to Addison Airport at 4570 Westgrove Road in Addison. The property is 50 percent occupied by 15 tenants. Dallas-based Bradford Commercial Real Estate Services represented the buyer, North Texas-based Guardian Texas Management, in the all-cash transaction.
DALLAS — A California investment group led by Michael Day of Embarcadero Advisors has purchased the 45,000-square-foot Spec’s Wines, Spirits & Finer Foods, located on the southeast corner of North Central Expressway and Walnut Hill Lane in Dallas. Rick Ikeler and Brad Gibbs of SRS Real Estate Partners represented the buyer in the transaction. The seller is Glenn Lake Partners LP.
HOUSTON — Transwestern has arranged a 64,413-square-foot lease at Two Westway, an office building located at 11025 Equity Drive in Houston. Eric Anderson and Doug Little of Transwestern represented the landlord, DeVry Park Limited Partnership, which is managed by Founders Properties of Minneapolis, in the lease transaction. Andy Iversen and Noah Kruger of Jackson Cooksey represented the tenant, Seadrill Americas. The lease transaction brings Two Westway to full occupancy.
