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.
FLOWER MOUND, TEXAS — Phase I of Lakeside, a mixed-use development located at FM 2499 and Lakeside Parkway in Flower Mound, is slated to break ground on April 24. The development will be located on the shores of Lake Grapevine. Phase I will include six buildings featuring 45,000 square feet of commercial space on the ground floors and 170 residential lofts on the upper floors. Phase I will also include 170 single-family homes by Darling Homes, American Legend Homes and Normandy Homes. Additionally, multifamily developer Greystar is planning to build urban-style residences in Phase I. Seven new parks are also planned. In all, Lakeside will span 150 acres and feature single-family and multifamily residences, lake-view restaurants, shops, cafes, hotels, a boardwalk and an amphitheater. Realty Capital Management is overseeing Lakeside's development.
HOUSTON AND SAN ANTONIO — Berkadia Commercial Mortgage LLC's Austin office has closed a portfolio of loans totaling $56.5 million in financing for four multifamily properties in metro Houston and San Antonio. Brant Smith of Berkadia arranged the financing through the firm's Freddie Mac program on behalf of the borrower, Concierge Asset Management. The four transactions include: A $20.5 million, seven-year loan with a 30-year amortization schedule for the 656-unit Aberdeen Apartments, located at 3400 Woodchase Drive in southwest Houston. A $9.5 million loan for the 324-unit El Dorado Ranch Apartments, located at 265 El Dorado Ranch Apartments in Webster, a Houston suburb. The 10-year loan amortizes over 30 years. A $12 million, seven-year loan for the 333-unit Sable Ridge Apartments, located at 330 Kitty Hawk Road in Universal City. The loan amortizes over 30 years. A $14.5 million, 10-year loan for the 208-unit Sunrise Canyon Apartments, located at 502 Sunrise Canyon Drive in Universal City. The loan amortizes over 30 years.
VICTORIA, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA), a financial intermediary, has arranged a fixed-rate mortgage of $5.7 million for Whispering Creek Retail Center in Victoria. The 60,049-square-foot center is located on North Navarro Street and its tenants include Beef O'Brady's, Twin Liquors, Al's Formal Wear and Marble Slab Creamery. The center is currently 81 percent occupied. Scott Lynn of MCA arranged the five-year loan through Viewpoint Bank. The loan provides the borrower with an earnout feature as new tenants take occupancy.
DALLAS — KPMG LLP, a tax and advisory firm, has signed a long-term lease with Hall Financial Group to be the anchor tenant of the 16-story Hall Arts building. The 450,000-square-foot mixed-use building will be located at 2323 Ross Ave. in the Dallas Arts District. KPMG will be leasing more than one-third of the building. Construction on the Hall Arts building is scheduled to start in September and wrap up in March 2015. The new office will house 1,300 KPMG employees. Carl Ewert and Stephen Holley of Jones Lang LaSalle represented KPMG in the transaction. Hall Financial Group was self-represented by Kim Vincent Butler. The Hall Arts design team includes architect Eddie Abeyta of HKS Inc. and general contractor Turner Construction.
HOUSTON — Exxon Mobil Corp. has appointed HFF as the advisor in the sale of the ExxonMobil Chemical Co. Headquarters campus in Houston's Energy Corridor. The 352,170-square-foot campus is located on a 35-acre lot at 13501 Katy Freeway and features 1,000 feet of frontage on I-10 and 800 feet of frontage on Memorial Drive. Robert Williamson and Davis Adams of HFF are representing ExxonMobil Chemical Co. Wally Reid and Colby Mueck of HFF will lead the debt placement team. ExxonMobil Chemical Co. is a division of Exxon Mobil Corp.