Texas

GENCAP BREAKS GROUND ON THE PARK AT LAKELINE APTS.

by admin October 31, 2012

AUSTIN — Dallas-based GenCap Partners Inc. has begun construction on The Park at Lakeline, a 352-unit luxury apartment complex located near Lakeline Mall in north Austin. GenCap will provide $30 million in construction debt and equity financing for the the development through several Dutch pension funds. Genesis Capital Advisors, an affiliate of GenCap, arranged the financing. Kelly Grossman Architects is designing the project, and TPAL Construction is the general contractor. The first units and clubhouse are slated for completion in the second quarter of 2013, with final completion slated for fourth quarter 2013.

October 31, 2012

EMBREY PARTNERS CLOSES ON WEST AVENUE DEVELOPMENT

by admin October 31, 2012

SAN ANTONIO — San Antonio-based Embrey Partners has closed on a new urban infill project, located on West Avenue along Wurzback Parkway in north central San Antonio. The 29-acre site will house a new Class A multifamily community with 360 units, backyards, two-car garages, an urban clubhouse, fitness center, aqua lounge and resort-style swimming pool. Each unit will feature granite countertops, designer lighting packages, garden tubs and stainless steel appliances. BBVA Compass is providing construction financing for the project and Nationwide Insurance is providing equity financing.

October 31, 2012

Multifamily Texas

CONTI BUYS SANTA FE APTS. IN DALLAS

by admin October 31, 2012

DALLAS — The CONTI Organization has purchased the 237-unit Santa Fe Apartments, a garden-style community located at 9505 Brockbank Drive in Dallas. CONTI acquired the property through a Fannie Mae loan. CONTI plans to invest $700,000 in capital improvements to restore the property, which was constructed in 1983.

October 31, 2012

Hospitality Texas

M&M BROKERS SALE OF BAYMONT INN & SUITES

by admin October 31, 2012

MIDLAND — Marcus & Millichap has arranged the sale of the 98-room Baymont Inn & Suites, a hotel property located at 10000 Airport Road in Midland. Jake Gaddy, Allan Miller and Chris Gomes of Marcus & Millichap's Austin, San Antonio and Dallas offices represented the seller, a private investor, in the transaction. Miller and Gaddy also represented the buyer, a developer.

October 31, 2012

Industrial Texas

KATY GREEN BUSINESS PARK UNDER CONSTRUCTION

by admin October 31, 2012

HOUSTON — Lone Star Partners has broken ground on Katy Green Business Parkway, a 26,480-square-foot office/warehouse project located near the northwest corner of Interstate 10 and Westgreen in Houston. Jim Autenreith and Jeff Barbles of Moody Rambin will handle leasing the property, which is expected to top off by year's end.

October 31, 2012

Seniors Housing Texas

CAPITAL SENIOR LIVING ACQUIRES $72.9M PORTFOLIO

by admin October 30, 2012

DALLAS — Dallas-based Capital Senior Living Corp. has completed the acquisition of eight seniors housing communities for $72.9 million. The eight assisted living/memory care communities are located in Texas, Indiana and Ohio. The acquisition was financed through $50.2 million of non-recourse mortgage debt. The properties' average occupancy is more than 95 percent and average monthly rents are approximately $3,200.

October 30, 2012

Retail Texas

INLAND BUYS WHEATLAND TOWN CENTER FOR $39.3M

by admin October 30, 2012

DALLAS — Inland Diversified Real Estate Trust has acquired the newly constructed Wheatland Town Center, a 206,223-square-foot shopping center located in Dallas, for $39.3 million. The center's tenant roster includes Ross Dress for Less, PetSmart, Party City, Dollar Tree, Shoe Carnival, Rue21, Five Below, Citi Trends, The Children's Place, Radio Shack and Office Depot. Inland was self-represented by vice president Matt Tice in the transaction.

October 30, 2012

Industrial Texas

LEVEY GROUP TO DEVELOP SAM HOUSTON BUSINESS PARK

by admin October 30, 2012

HOUSTON — Levey Group has plans to develop Sam Houston Business Park, the company's first industrial/flex business park, in Houston. The park will total 206,375 square feet on a 22.7-acre lot off Beltway 8 between Highway 290 and Highway 249 in northwest Houston. Building One will be a 73,500-square-foot flex facility with 27 rear-loading docks, Building Two will be a 70,875-square-foot distribution facility with 23 rear-loading docks and Building Three will be a 62,000-square-foot bulk distribution facility with 20 side-loading docks. Each facility is being built on a speculative basis. Munson Kennedy Partnership designed the business park, which is slated to break ground in the first quarter of 2013.

October 30, 2012

Civic Texas

CADENCE MCSHANE COMPLETES HIGH SCHOOL ADDITION

by admin October 30, 2012

PLANO — Cadence McShane Construction Co. has completed a new 22,000-square-foot addition to Clark High School, located at 523 Spring Creek Parkway in Plano. The addition includes eight new classrooms on the first floor, four new science laboratories and new restrooms to serve the expansion of students in the school. Corgan Associates Inc. provided architectural services for the project.

October 30, 2012

Hospitality Texas

DISTRESSED SAN ANTONIO HOTEL TRADES IN SHORT SALE

by admin October 30, 2012

SAN ANTONIO — Marcus & Millichap has arranged the short sale of the 112-room Days Inn Splashtown/AT&T Center, a distressed hotel located at 3443 Pan Am Expressway in San Antonio. Allan Miller of Marcus & Millichap's San Antonio office, Jake Gaddy of the firm's Austin office and Chris Gomes of the firm's Dallas office represented the seller, a limited liability company, in the transaction. Michael Laurencelle of Marcus & Millichap Capital Corp. arranged financing for the transaction.

October 30, 2012

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