ODESSA, TEXAS — Epperson Co. and the Sewell Family of Cos. has opened Phase I of the 65-acre Parks Legado Town Center in Odessa. The mixed-use development's first phase includes a 120-room Residence Inn by Marriott, an Aim Bank branch and 27,000 square feet of restaurant and retail space. Tenants include The Egg and I, Cork and Pig Tavern, Kenzington's Kloset, Joe James Salon and Aveda Day Spa. Upcoming tenants in Phase I include Cavender's, Whitehouse Market and Jersey Mike's Subs. Phase II will include a Marriott Courtyard, Hilton Homewood Suites, Sewell Volkswagen, Sewell Ford-Lincoln, pad sites and 20,000 square feet of shop space.
CANTON AND CORINTH, TEXAS — National Health Investors (NHI) has purchased two skilled nursing facilities totaling 254 beds in Canton and Corinth. The $26.3 million purchase was funded from borrowings on NHI's revolving credit facility.
AUSTIN, TEXAS — Seattle-based Metzler Real Estate has sold TechRidge Five, a 226,076-square-foot industrial property in Austin for $24 million. Investor group GH TechRidge Five Inc. purchased the Class A facility, which is fully leased to NCS Pearson, an education and publishing company. The light industrial facility is located at 905 W. Howard Lane. Metzler was self-represented by Matthew Paddock, in addition to Jack Fraker and Josh McArtor of CBRE, in the transaction.
SAN ANTONIO — Institutional Property Advisors (IPA) has brokered the sale of The View at Encino Commons, a 324-unit multifamily community at 21303 Encino Commons in northern San Antonio. The community features a resort-style swimming pool, an outdoor fireplace pavilion, clubhouse, Internet cafe, fitness center, surround-sound movie theater, entry gates, car wash and direct access garages. Will Balthrope and Scott Lamontagne of IPA represented the seller in the transaction. McCann Realty Partners is the buyer. IPA is the multifamily brokerage division of Marcus & Millichap Real Estate Services and serves institutional and major private investors.
HOUSTON — Resource Real Estate Opportunity REIT has purchased the 244-unit Armand Place in the Clear Lake community in Houston. The multifamily community features two swimming pools, a 24-hour fitness center, wood-burning fireplaces and shuttle services to the University of Houston-Clear Lake. Resource plans to make capital improvements to the property in the near future. Resource Real Estate Opportunity REIT is sponsored by Philadelphia-based Resource Real Estate Inc., a real estate investment and management firm.
TYLER, TEXAS — Dallas-based LIG Assets Inc. has purchased a tract of land on Gentry Parkway in Tyler for the construction of a new hotel. LIG acquired the tract from OM SHRI JJB LLC.
AUSTIN, TEXAS — Beverly Hills, Calif.-based Misuma Holdings has acquired the 180,000-square-foot Lincoln Village, a shopping center located at 6406 N. Interstate 35, at the intersection of Interstate 35 and Highway 290 in Austin. The shopping center includes tenants such as Chase Bank, Gold's Gym, the Marchesa Theater and Men's Wearhouse.
LUBBOCK, TEXAS — CBRE Capital Markets in Dallas and Houston brokered the sale of the 144,241-square-foot South Plains Crossing, a neighborhood shopping center located at 6802 Slide Road in Lubbock. The property is 98 percent leased to tenants including Hobby Lobby and Spec's Liquor. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller, Dallas-based ATR & Associates, in the transaction. Phoenix-based Cole Real Estate Investments purchased the center, which was renovated in 2012.
PHARR, TEXAS — Linsalata Realty Services has arranged the sale of the 94,160-square-foot AAA Storage EXP 281, a self storage facility consisting of 622 units in Pharr. The facility is located at 4007 Cage Blvd. and includes climate controlled and non-climate controlled units. Joe Linsalata represented the seller in the transaction. The buyer is AMERCO Real Estate Co., which plans to expand the facility to an adjacent tract the company also purchased in the transaction.
HOUSTON — Marcus & Millichap has arranged the sale of the 168-unit Dover Pointe Apartments, located at 14445 Wallisville Road in Houston. The community's list price was $5.4 million. Jeffrey Fript of Marcus & Millichap's Houston office represented the seller and the buyer, both Texas-based partnerships, in the transaction. The buyer plans to renovate the apartment community.