DALLAS — NorthMarq Capital has secured a $4 million construction/permanent loan for a 21,000-square-foot Trader Joe's, located at 2001 Greenville Ave. in Dallas. Bart Dickinson of NorthMarq's Dallas office arranged the 21-year loan to amortize over 21 years through a life insurance company lender.
AUSTIN — DPG Investments, Vintage Pacific and affiliates closed funding for a joint venture with San Francisco-based Coast Range Investments for the development of the $800 million XS Ranch, a 9,600-acre master-planned community in Austin. The project is fully entitled for 7,050 residential lots. Vintage Pacific and Coast Range Investments will develop and manage the community.
HOUSTON — Newport Beach, Calif.-based KBS Strategic Opportunity REIT has closed on its acquisition of West Loop I & II, a 313,873-square-foot office complex located in Houston's Bellaire submarket. The office complex recently underwent nearly $4 million in capital improvements, including elevator upgrades and renovations for its adjacent eight-story parking deck. Charles Schreiber, Jr., Peter Bren, Keith Hall and Peter McMillan III of KBS Realty Advisors sponsored the buyer in the transaction, and KBS Capital Advisors LLC advised the REIT.
LEWISVILLE — A joint venture between Global Growth Trust, Dallas-based Hunt Realty Investments and Dallas-based Trinsic Residential Group has plans to develop a $34.9 million, Class A apartment community in Lewisville's Castle Hills master-planned community. The garden-style community, known as Aura Castle Hills, will contain 316 units and feature a clubhouse, business center, fitness center, dog park, resort-style swimming pool and attached and detached garages.
AUSTIN — The Connor Group has purchased the 290-unit River Oaks, an apartment community located in southwest Austin, for $34.6 million. The seller was River Oaks Sunset Valley Inc. The community features amenities such as a pool, spa, pavilion, lounge, fire pit, wireless Internet, business center, fitness center, group kitchen, playscape, dog park, sand volleyball court and basketball court.
THE WOODLANDS — Layne Christensen Co., a water management and construction firm, has signed a 51,152-square-foot lease for space in One Hughes Landing, a Class A office property being developed in the 66-acre Hughes Landing on Lake Woodlands mixed-use development in The Woodlands. When built out, One Hughes Landing will span eight stories and 197,000 square feet. Houston-based Gensler has designed the property to LEED Silver certification standards. Layne Christensen Co. signed the lease for the top two floors of the office building with the project's developer, The Woodlands Development Co., a subsidiary of The Howard Hughes Corp. Texas Capital Bank and Woodforest National Bank provided $38 million in non-recourse financing to The Howard Hughes Corp. for the development of One Hughes Landing. Robert Parsley and Norman Munoz of Colliers International represented the landlord in the lease transaction. Sven Sykes of Colliers' Chicago office, Brian Johnson of the firm's Kansas City office and Jay Kyle of the firm's Houston office represented the tenant.
IRVING — TDI has purchased 6.65 acres of land at Northwest Highway and Las Colinas Boulevard in the Las Colinas neighborhood of Irving for a $50 million, 386-unit multifamily development. Construction is slated to begin in March 2013. The development will include walk-up brownstone apartments and a clubhouse with a retail-style urban patio. Every kitchen will include an island and the interiors will feature 10-foot ceilings.
HOUSTON — Skanska has completed the topping out of a 302,000-square-foot, 20-story office tower, located at 3009 Post Oak Blvd. in uptown Houston. Houston-based Kirksey Architects designed the Class A property to LEED Platinum standards. The building will include several sustainable energy-efficient features such as a state-of-the-art HVAC system, recycling center and rainwater collection system.
MIDLAND — Houston-based Satterfield & Pontikes Construction has planned the construction of multiple 100,000-square-foot office properties, located in the master-planned Westridge Park in Midland. Houston-based Kirksey Architects is designing the new four-story properties. Ron McWherter of CBRE's Houston office and Bill Scott of Midland Texas Real Estate are handling the leasing for the property.
HOUSTON — ARA has arranged the sale of two multifamily properties, the 181-unit Capital Estates and the 151-unit Harbortree apartment communities, both located in Houston's Clear Lake submarket. David Wylie, Russell Jones, Zach Springer and Matt Saunders of ARA's Houston office represented the seller in the transaction. Houston-based Dakota Enterprises acquired the REO portfolio. Capital Estates is 78 percent occupied, while Harbortree is 73 percent occupied.
