SAN ANTONIO — Hendricks-Berkadia has arranged the sale of Churchill Park, a 392-unit apartment community located at 1200 Patricia Drive in San Antonio. Mike Miller, Chris Ross and Will Caruth of Hendricks-Berkadia's San Antonio office negotiated the transaction between the seller, Centennial, Colo.-based Churchill Partners LLP, and the buyer, a private investor from California. According to Hendricks-Berkadia, the San Antonio metro vacancy rate for multifamily properties declined to 2.5 percent by the end of 2012 and rents advanced 1.2 percent to an average $746 per month.
HOUSTON — ARA has arranged the sale of the 250-unit Compass Pointe, a multifamily property located in Houston. The community was built in 1971 and is currently 75 percent occupied. Matt Saunders, Russell Jones and Zach Springer of ARA represented the seller, Arizona-based PEM Real Estate Group, in the transaction. The buyer was the Dallas-based Urban Southwest Capital, which plans to continue the community's rehab program that PEM began initially.
PLANO, TEXAS — Bradford Commercial Real Estate Services has added the 74,738-square-foot Preston Pointe Centre, a four-story office building located at 1400 Preston Road in Plano, to its office leasing portfolio. The owner, Dallas-based Intercity Investments, has selected Melanie Hughes and Sharon Friedberg of Bradford to spearhead the office's leasing responsibilities. Intercity Investments recently began renovating Preston Pointe with new spec suites, which are slated to be delivered this summer.
DALLAS – New Jersey-based Deerwood Real Estate Capital has closed a $160 million acquisition loan for The Colonnade, a 1.05 million-square-foot office building complex comprised of three towers in the far north Dallas submarket. Tenants include Zurich American Insurance Co., United Surgical Partners, Hilton Worldwide, New York Life Insurance and Willis Insurance. David Rosenberg and Joe Hercenberg of Deerwood arranged the 10-year loan with three years interest-only payments and a 30-year amortization schedule.
HOUSTON – Hunington Properties has arranged the sale of Cinco Ranch Village, a 20,000-square-foot retail center situated in the master-planned Cinco Ranch community, which is located in the extraterritorial jurisdiction of Houston. The center is fully leased to Subway, Farmer's Insurance, and Planet Beach Tanning. Sandy Aron and Todd Carlson of Hunington Properties represented the seller, an out-of-state trust, in the transaction. The buyer was a Florida-based private client. The buyer will retain Hunington as the property's management and leasing agent.
STAFFORD, TEXAS – Boyd Commercial/CORFAC International has secured the sale of a 14,129-square-foot industrial property, located at 12806 and 12810 Murphy Road in Houston. Alexander Reilly of Boyd/CORFAC represented the seller, Exland LLC, in the transaction. Massiel Marcano-Polo of Realm Real Estate Professionals represented the buyer, Alianza Brothers Properties Inc.
HOUSTON – CBRE has arranged two office lease transactions, totaling 18,341 square feet, at Marathon Oil Tower, a 41-story, Class A office building at 5555 San Felipe St. in Houston's Tanglewood/San Felipe submarket. The transactions include Pacific Rubuiales USA Inc. leasing 10,114 square feet and CYVIZ LLC leasing 8,200 square feet. John Pruitt and Jessica Ochoa of CBRE represented the landlord, Tower Associates LP, in the transactions. CBRE also manages Marathon Oil Tower. Victor Valenzuela of Transwestern represented Pacific Rubuiales, and Dan Boyles of NAI represented CYVIZ.
CORPUS CHRISTI, TEXAS — T.J. Maxx and HomeGoods will open a 44,750-square-foot store this fall at The Shops at La Palmera, a 200,000-square-foot outdoor shopping center in Corpus Christi. The new stores will feature separate entrances but shoppers will be able to move freely between the two stores once inside. Fort Worth-based Trademark Property Co. is developing The Shops at La Palmera. The TJX Cos. Inc. owns both T.J. Maxx and HomeGoods.
ARLINGTON, TEXAS — Marcus & Millichap has secured the sale of the 17,674-square-foot Cross Creek Shopping Center, located at 2001 S.E. Green Oaks Blvd. in Arlington. The center is 93 percent occupied with medical and retail tenants. Blake Burnett of Marcus & Millichap's Dallas office represented the seller, a limited liability company, in the transaction. An outside broker represented the buyer, a Texas-based investment partnership.
BETHESDA, MD. — Beech Street Capital LLC has closed seven Fannie Mae DUS loans totaling $42.8 million for seven manufactured home communities in Texas, Arizona and Michigan. The portfolio includes five communities in Michigan, one in Texas and one in Arizona totaling 2,232 home sites. Damon Reed of Beech Street's Birmingham, Ala., office originated the 10-year loans with a 30-year amortization schedule on six loans and a 25-year schedule on the other loan.