FARMERS BRANCH, TEXAS — Stream Realty Partners has facilitated a lease expansion at The Centre, a 52-acre campus consisting of 11 office buildings. The Centre is located at 4100 Alpha Road in Farmers Branch in the West LBJ submarket. TexasLending.com’s 11,763-square-foot lease brings its total footprint at The Centre to 79,153 square feet. Seth Thatcher of CASE Commercial Real Estate Partners represented the landlord, Daltex Centre LP, in the transaction.
DENTON COUNTY, TEXAS — Wheelock Street Capital has broken ground on Canyon Falls, a 1,200-acre master-planned community located between U.S. Highway 377 and Interstate 35 West in Denton County. The community will be served by the Argyle and Northwest Independent School districts. City and county officials, along with Wheelock, celebrated the groundbreaking, which included the announcing of the first group of home builders: Ashton Woods Homes, K. Hovnanian Homes, Highland Homes, Plantation Homes and Toll Brothers. Manna Land is the local development partner for Canyon Falls. The construction of initial roads and home sites will be complete late this year, and home sales are expected to begin in early 2014.
AUSTIN, TEXAS — BSR Trust LLC, an owner and operator of 115 properties in the Southern U.S., has acquired Heritage at Hillcrest Apartment Homes, located at 1200 and 1201 Broadmoor Drive in Austin. The 286-unit property underwent a $5 million renovation in 2009. Community amenities include private balconies/patios, three swimming pools, four active laundry facilities, a clubhouse and business center. Oak Grove Capital arranged acquisition financing through Freddie Mac on behalf of BSR. Ellen Muskin and Daniel Elam of Muskin Commercial LLC represented the seller in the transaction.
MCALLEN, TEXAS — Florida-based Parkbridge Capital Group LLC has coordinated a $6.5 million acquisition and related financing for Palm Shadows Resort, a luxury RV resort in the McAllen area. The 450-unit gated community features an 8,000-square-foot clubhouse with a stage and dance floor, a billiards room, pool and lounge. The related financing is a $4.5 million loan with a 4.5 percent interest rate. Lee Meekcoms of Parkbridge represented the buyer, a South Florida-based investment partnership, in the transaction. The seller is a private investor that owns several other RV/mobile home parks in Texas and Florida.
CORPUS CHRISTI, TEXAS — Dallas/Fort Worth-based SQN Realty Finance LLC and Atlanta-based Thrive Senior Living LLC have formed a joint venture to acquire 3.4 acres in Corpus Christi for the construction of a 64-bed memory care facility. Thrive will develop and manage the property; SQN will provide equity for the project; and Corpus Christi-based Ewing Construction Co. will be the general contractor. Construction is slated to begin in June and wrap up in April 2014.
HOUSTON — Medistar has retained Moody Rambin as the exclusive property management and leasing agent for the 17-story River Oaks Medical Tower, a 139,827-square-foot medical office tower located in Houston. The property is located at 4126 S.W. Freeway in Houston's Greenway Plaza submarket. The property offers medical suites ranging from 1,500 to 8,000 square feet, with approximately 70,799 square feet available for lease. The property recently underwent a multi-million dollar exterior and interior renovation. Walter Cameron of Moody Rambin will oversee property management, and Kurt Kistler and Bob Cromwell of Moody Rambin will handle the leasing assignment.
COPPELL, TEXAS — ML Realty Partners LLC, an industrial real estate investment company, has acquired a 457,000-square-foot industrial portfolio in Coppell. The Class A portfolio includes five distribution buildings in Park West Commerce Center, located just north of the Dallas/Fort Worth International Airport.
AUSTIN, TEXAS — Transwestern has arranged the sale of Commerce Center South, three Class A industrial properties totaling 155,545 square feet in Austin's Southeast Industrial submarket. The property is 100 percent leased and is situated on a 35.3-acre development site. Hale Umstattd, Leah Gallagher and Luke Wheeler of Transwestern represented the seller, PacTrust, in the transaction. Commerce Center South is the first Austin acquisition for the buyer, Pennsylvania-based Stoltz Real Estate Partners. The company plans to expand its Austin portfolio in the future by buying office, industrial and retail properties. Stoltz purchased Commerce Center South through its investment vehicle, SREF IV.
HOUSTON — Trust Tobacco Co. has acquired a 83,000-square-foot industrial facility, located at 7604 Kempwood Drive in Houston. The property consists of 44,000 square feet of office space and 39,000 square feet of HVAC warehouse. Reed Vestal and Taylor Schmidt of the Finial Group represented the seller in the transaction.
ARLINGTON, TEXAS — Amerco Real Estate Co. has purchased a 76,448-square-foot industrial property, located at 2901 E. Pioneer Parkway in Arlington. Stan McClure of CBRE represented the seller, Loh International LP, in the transaction.