HOUSTON — ARA has arranged the sale of the 224-unit Silver Leaf, a Class B apartment complex located in Houston's Sharpstown/Westwood submarket. David Wylie, Zach Springer, Russell Jones and Matt Saunders of ARA represented the seller, Philadelphia-based Resource Real Estate, in the transaction. Brooklyn-based Besyata Investment Group is the buyer. The apartment community was built in 1977 and refurbished in 2001. The property is 95 percent occupied.
HOUSTON — NorthMarq Capital has secured $3.8 million in first mortgage refinancing for the 176-unit Villa Ana Apartments, located at 10101 W. Sam Houston Parkway in Houston. John Burke and Chad Owens of NorthMarq's Houston office arranged the 10-year loan on a 25-year amortization schedule through AmeriSphere Multifamily Finance on behalf of the borrower, The CONTI Organization.
HOUSTON — Hunington Properties has arranged the sale of the 10,484-square-foot Crossroads Retail Center, located near the intersection of Highway 290 and FM 1960 in Houston. The property is fully leased to mostly national tenants. Todd Carlson and Larry Riklin of Hunington Properties represented the buyer, a local nonprofit organization, in the transaction. The buyer plans to assume management and leasing duties for the property.
CORPUS CHRISTI — TP Ayers Street Self Storage, Ltd. has purchased the 803-unit AAA Storage Ayers, a 124,908-square-foot self-storage facility located at 5560 Ayers St. in Corpus Christi. Joe Linsalata of Linsalata Realty Services represented the seller in the transaction. Tracy Taylor of Watson and Taylor represented the buyer, which is planning to upgrade the facility and improve operations.
ODESSA — Kenzington's Kloset and The UPS Store have plans to open new locations in Parks Legado Town Center, a 68-acre mixed-use development in Odessa. Phase I of the development is 95 percent leased to tenants including Aim Bank, Cork and Pig Tavern, The Egg and I Restaurant, Press Cafe, Joe James Salon and Day Spa, Marble Slab Creamery, Whitehouse Meat Market and Nutrition Bunker. The development will also include a 120-room Residence Inn, which will open in the spring of 2013.
GRAPEVINE — Trammell Crow Co. has selected Cadence McShane Construction Co. to build three new warehouse/distribution centers near DFW International Airport in Grapevine totaling 986,500 square feet. The three facilities are being built at Trammell Crow's DFW Trade Center, located at the intersection of Esters Road and Corporate Drive. The new facilities include the 500,000-square-foot Building 6, the 297,500-square-foot Building 7 and the 202,500-square-foot Building 9. GSR Andrade Architects Inc. will provide architectural services for the assignment.
HOUSTON — EDGE Realty Partners and EDGE Capital Markets has arranged the acquisition of a four-property, 71,321-square-foot retail portfolio in west Houston totaling $15.8 million. Joshua Jacobs of EDGE Realty Partners represented the buyer, West Houston Retail, in the transaction. The seller and developer, Satya Inc., was self-represented by Gopal Bathija. The retail portfolio includes Briarforest Plaza at 133346 Briar Forest Drive, Coles Crossing at 24110 NW Freeway, Sandbridge Plaza at 1275 N. Eldridge Parkway and River Gate Center at 1125 Crab River Road.
DALLAS — The Dallas office of ARA led a brokerage team in the sale of a multi-state apartment portfolio totaling 1,397 units. The properties include The Vineyards in Katy (369 units), Estancia at Vista Ridge in Lake Lewisville (300 units), Stoneridge Farms in Nashville, Tenn. (364 units) and Sandstone Creek in Overland Park, Kan. (364 units). Brian O'Boyle of ARA's Dallas office led the ARA team that consisted of Scott Tyrone in the firm's Nashville office, David Oelfke in Houston and Mac Crowther in Kansas City, Kan. The team represented the seller, Columbus, Ga.-based Flournoy Development Co., in the transaction. Kansas City, Mo.-based JTL Real Estate Partners is the buyer.
HOUSTON — Marcus & Millichap has arranged the sale of the 96-unit Oakwood Manor, an apartment complex located at 611 W. Cavalcade in Houston. Juan Cuevas of Marcus & Millichap's Houston office represented the seller and the buyer, a private investor, in the transaction.
HOUSTON — Mikob Properties has retained Moody Rambin as the leasing agent for the 78,027-square-foot Eleven Five Eleven building, located at 11511 Katy Freeway in Houston's Energy Corridor submarket. Kurt Kistler of Moody Rambin will handle the leasing assignment.
