AUSTIN, TEXAS — Hendricks-Berkadia has arranged the sale of Canyon Oaks, a 562-unit apartment community located at 1601 Royal Crest Drive in Austin. The complex offers studio, one-, two-, three- and four-bedroom floor plans. George Deuillet III of Hendricks-Berkadia negotiated the transaction between the seller, S2S Canyon Oaks Associates LP, and the buyer, Austin-based Presidium Group.
Texas
FARMERS BRANCH, TEXAS — Colliers International North Texas has brokered the lease for Texas Industries’ (TXI) new, 44,000-square-foot office lease in the Park West office complex at 1501 LBJ Freeway in Farmers Branch. More than 160 TXI employees will be relocated to the new office in November. Jim Graham and Travis Ewert of Colliers International represented the tenant. Grant Sumner, Joe Pustmueller and Sarah Hinkley of Peloton Commercial Real Estate represented the landlord, Highland Capital Management.
HOUSTON — Cresa has arranged the sale of half of the 19,000-square-foot retail center Grisby Square, located at 302 Stafford St. in the Far West retail submarket of Houston. The sold property includes the locations of Ginger Thai Spice and Watson’s House of Ales. Steven Heal of Cresa represented the owner, Holt Partnership, in the sale to Hospitality USA, which was self-represented by Jaime Blake in the transaction.
DALLAS — Marcus & Millichap Real Estate Investment Services has arranged the sale of Catalina Court, a 123-unit apartment complex located at 3425-3435 S. Polk St. in Dallas. Steven Crittenden of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer is an investor that owns multiple multifamily properties on South Polk Street.
PORT ARTHUR, TEXAS — DPG Partners has selected Dallas-based Weis Builders as general contractor on the $6.3 million Towneplace Suites located in Port Arthur. Towneplace Suites will offer an outdoor pool, fitness room, and kitchen with continental breakfast. This hotel is Weis’ fifth project with DPG, and their second hotel in Port Arthur. Completion is expected in summer 2014.
LONGVIEW, TEXAS AND NASHVILLE — Greystone has originated $30 million of FHA insured loans for two multifamily properties located in Texas and Tennessee. Donny Rosenberg of Greystone closed the loans on behalf of the borrower, Amesbury Cos. Hickory Point at Brentwood, located in Nashville, received $22.5 million of loan proceeds pursuant to Section 223(a)(7) of the National Housing Act. The property consists of 298 units. Hunters Crossing, located in Longview, received $7.9 million of loan proceeds through HUD’s Section 223(f) program. The complex contains 192 units.
GRAPEVINE, HUMBLE, AND ARLINGTON, TEXAS — UCR Investment Sales has brokered the sale of three retail properties in Texas totaling 33,573 square feet. The first property, Hall Johnson Center, is a 21,853-square-foot shopping center located on Hall Johnson Road in Grapevine. Notable tenants of the center include Anytime Fitness, Subway and Papa Murphy’s Pizza. The second property, Starbucks Retail Center, is a 5,720-square-foot retail center located at Northpark Drive and Glade Drive in Humble. The complex is occupied by Menchie’s Frozen Yogurt, The Nail Spot and Starbucks. The final property is a 6,000-square-foot single tenant restaurant leased to Mellow Mushroom located on North Center Street one block north of University of Texas at Arlington. Tommy Tucker of UCR Investment Sales represented the sellers in all three transactions.
CARROLLTON, TEXAS — Lee & Associates has arranged a 44,900-square-foot industrial lease at 1135 Trinity Mills Road in Carrollton. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, Cobalt Capital Partners. Bill de la Chapel of Transwestern Commercial Services represented the tenant, Armstrong Relocation.
SAN ANTONIO — Stream Realty Partners has brokered the extension and expansion of a 32,400-square-foot industrial lease at Lanark Distribution Center, located at 610 Lanark Drive in San Antonio. Jason Schnittger of Stream Realty Partners represented the landlord, Mayfield Properties, in a direct deal with tenant Ram Tool & Supply.
LEWISVILLE, TEXAS — Beech Street Capital LLC has closed a Fannie Mae conventional loan for the acquisition of The Place at Park Timbers, a 230-unit multifamily property in Lewisville, a suburb of Dallas. Chuck Christensen of Beech Street originated the transaction. The borrower is a partnership organized by Allmark Properties. The Place at Park Timbers offers 11 floor plans, a clubhouse, two pools, a spa and fitness center. Units feature all-electric kitchens, central air, private balconies and patios and walk-in closets.