DALLAS — Marcus & Millichap has arranged the sale of the 798-unit Las Cascadas, a 599,160-square-foot apartment complex located at 9350 Skillman St. in northeast Dallas. Norman Eastwood and Tommy Lovell III of Marcus & Millichap's Dallas office represented the seller, a partnership based in California, in the transaction. Marcus & Millichap represented the buyer, a local partnership. The community features a swimming pool, sundeck, fitness center, picnic areas, playground and a sports court.
FAIRVIEW AND ALLEN — The Village at Fairview and The Village at Allen, two joint mixed-use developments, have added new tenants. Together, The Village at Fairview and The Village at Allen span more than 3 million square feet, making it the biggest mixed-use development in Texas. The properties are located at the intersection of U.S. 75 and Stacy Road in Fairview and Allen. ULTA Beauty will open a 10,700-square-foot store at The Village at Fairview, Texas Land & Cattle Steak House will open an 8,500-square-foot restaurant at The Village at Fairview and Havertys will open a 50,750-square-foot store at The Village at Allen. Princeton Partners represented the owner, The MGHerring Group, in the Havertys transaction. The MGHerring Group was self-represented in the ULTA and Texas Land & Cattle transactions.
DALLAS — Beech Street Capital has originated $5.8 million in Fannie Mae DUS loans to refinance a two-property apartment portfolio in the Dallas MSA. The properties include Valley Creek and Living Oaks, which total 250 units combined. Larry Sneathern of Beech Street's Dallas office arranged the five-year loans with three years of interest-only payments.
PEARLAND — Hatch Mott MacDonald Group Inc. has leased 19,523 square feet at Phase I of the Shadow Creek Business Center, an office property located at 11233 Shadow Creek Parkway in Pearland. The transaction brings the office property to full occupancy. Derek Beck of Moody Rambin represented the building owner, ZT Group Business Center One (Pearland), in the lease transaction. Ryan Fassett of Moody Rambin represented the tenant. Additionally, pre-leasing for Phase II is under way. Construction of Phase II is expected to last 12 to 18 months.
AUSTIN — AMLI Residential plans to develop a 279-unit apartment building in the new mixed-use town center in Austin's Mueller master-planned community. The property will include approximately 8,000 square feet of retail space and will be located adjacent to the upcoming Austin Children's Museum. Fifteen percent of the units will be included in the Mueller Affordable Homes Program. The new apartment community will feature a fitness studio, a conference center, Wi-Fi, club, gaming lounge, resort-style pool, private sundeck and a public paseo linking the lakefront with the apartments. AMLI is anticipating the project to achieve LEED certification. AMLI will break ground on the development in the first quarter of 2013, with the first units available in the third quarter of 2014.
HOUSTON — The Houston chapter of Dress for Success has opened its new 16,600-square-foot office building, located at 3310 Eastside St. in Houston. The property was developed using $6.5 million in donations. D.E. Harvey Builders constructed the property and Ziegler Cooper Architects designed it. The new building includes a warehouse, sorting center, meeting space, computer center, resource center, child care facility and retail space.
SAN ANTONIO — Beech Street Capital has closed $39.2 million in Freddie Mac Capital Market Execution loans to refinance a three-property apartment portfolio totaling 942 units in San Antonio. The three properties include Sunset Canyon Apartments, Kenton Pace Apartments and Peppermill Apartments in San Antonio. Brian Sykes of Beech Street's Boston office originated the 10-year loans.
DALLAS AND ARLINGTON — NorthMarq Capital has arranged $5.6 million in acquisition financing for a portfolio of four industrial buildings located in Dallas and Arlington. The portfolio spans 240,000 square feet. Phillip Bankhead of NorthMarq's Dallas office arranged the 20-year loan to amortize over 20 years through a life insurance company.
ALLEN — Twin Creeks Business Center, a three-building, 180,000-square-foot industrial property at 1307 N. Watters Road in Allen, is nearly fully occupied after adding a tenant. Associated American Industries Inc. has signed a 21,027-square-foot lease for flex space at Building 200, becoming the building's first tenant. Susan Singer and Michael Grant of Bradford Commercial Real Estate Services/CORFAC International represented the landlord, Twin Creeks Warehouse Ventures LP, in the lease transaction. Natalie Snyder, Sharon Morrison, Nora Hogan and Robert Deptula of Transwestern Dallas represented the tenant.
HOUSTON — Liberty Property Trust has selected Cadence McShane Construction Co. to build the 163,600-square-foot Liberty 10 at Central Green, a warehouse/distribution center located at 16330 Central Green Blvd. in Central Green Business Park in Houston. The property is LEED Core and Shell certified and will include 3,000 square feet of office space. Seeberger + Associates will provide architectural services for the assignment. The project is slated for a February 2013 completion.
