GRAND PRAIRIE — Prologis has sold a 110,000-square-foot industrial property, located at 1414 N. Carrier Parkway in Grand Prairie. Cannon Green and Bates Arnot of Stream Realty Partners represented the seller in the transaction. The buyer was Sigma Family Limited Partnership.
AZLE — Marcus & Millichap has arranged the sale of the 17,200-square-foot ABC Self Storage, a 98-unit self-storage facility located at 13500 S. FM 730 in Azle. The facility is currently 85 percent occupied. Brandon Karr of Marcus & Millichap's Fort Worth represented the seller, a private investor, in the transaction. Mason Green, also of Marcus & Millichap's Fort Worth office, represented the buyer, a local limited liability company.
THE WOODLANDS — NorthMarq Capital has secured first mortgage acquisition financing for the 19,663-square-foot Pines Crossing Office Building, located in The Woodlands. Warren Hitchcock of NorthMarq's Houston office arranged the 10-year loan with a 25-year amortization schedule through a life insurance company.
HOUSTON — Behringer Harvard REIT has plans to develop the 332,000-square-foot Two BriarLake Plaza, a 12-story office tower that will be located on a 1.5-acre site at the corner of West Sam Houston Parkway and Briar Forest Drive in Houston's Westchase District. The office building will be located on top of a seven-level parking structure. The office tower is 50 percent pre-leased to Samsung Engineering and is designed to LEED Core and Shell certification. The office tower will feature a deli, fitness center and conference center. Lucian Bukowski and Garrold Parratt of Jones Lang LaSalle represented Samsung in the lease transaction. Brian McMackin and Clint Bawcom of Cassidy Turley represented Behringer Harvard. HPT Management Services will manage the office property and Cassidy Turley will provide leasing services. Construction is slated for a first quarter 2014 completion.
DEER PARK — Marcus & Millichap has arranged the approximately $2.38 million sale of the 56-room Best Western Deer Park Inn & Suites, located at 1401 Center St. in Deer Park. Rahul Bijlani, Michael Yu and Eric Guerrero of Marcus & Millichap's Houston office represented the seller, a private investor, in the transaction. Bijlani, Yu and Guerrero also represented the out-of-state buyer.
DALLAS — Panther Transaction Group has sold the 158-unit Casa Linda, a multifamily community located at 2808 St. Augustine Drive in southeast Dallas. The property is currently 90 percent occupied. Transwestern's Dallas Multifamily Group represented the California-based buyer and the seller in the transaction.
HOUSTON — Q10 Kinghorn, Driver, Hough & Co. has arranged $11.9 million in first mortgage refinancing for a 12-story Wells Fargo office building, located along the Southwest Freeway in Houston. Travis Fite of Q10's Houston office arranged the 10-year loan with a 30-year amortization schedule through Prudential Mortgage Capital.
KINGWOOD — NorthMarq Capital has secured first mortgage refinancing for the 48,835-square-foot Kings Crossing Town Center, located at the intersection of Lake Houston Parkway and Kingwood Drive in Kingwood. Tenants of the retail center include Cornerstone Mortgage, Chachi's Mexican and First American. Warren Hitchcock of NorthMarq's Houston office arranged the 10-year loan with a 30-year amortization schedule through one of its long-time CMBS lending relationships on behalf of the borrower, KCTC.
AUSTIN — Austin-based American Campus Communities has closed the previously announced $627 million acquisition of Campus Acquisitions' 15 student housing properties totaling 6,579 beds. The purchase consists of approximately $231.1 million of outstanding mortgage debt, the issuance of 325,098 operating partnership units valued at $46.14 per unit and approximately $380.9 million in cash. The properties include the 121-bed Vintage West Campus, the 190-bed Texan West Campus and the 623-bed The Castilian, all serving students at the University of Texas-Austin. Other Texas properties include the 315-bed Bishops Square serving students at Texas State University and the 120-bed Union serving students at Baylor University. The remaining communities serve students at the University of Illinois, Purdue University, Arizona State University, University of Southern California, University of Michigan, Iowa State University, University of Georgia and the University of South Carolina. Bank of America Merrill Lynch acted as financial adviser to ACC and UBS Investment Bank acted as financial adviser to Campus Acquisitions. Locke Lord LLP served as legal counsel to ACC.
HOUSTON — Satterfield & Pontikes Construction has finished building the 88,000-square-foot Neff-White Relief Elementary School, located in southwest Houston. The $12.2 million school will serve 750 students in grades 2-5. PDG Architects designed the school to achieve LEED certification through the increased use of natural light, low-consumption plumbing fixtures and energy-efficient systems and controls. Rice & Gardner provided mechanical, electrical and plumbing engineering services for the project.