HOUSTON — Cadence McShane has completed the construction on a 253,838-square-foot tenant improvement assignment for an industrial property, located within the Guhn Road Distribution Center at 6535 Guhn Road in Houston. Cadence McShane worked on behalf of Forum Energy Technologies, completing a 20,000-square-foot office component and customized research and development space. Richard Moody Architects provided architectural services for the project.
DALLAS — A 364-room Holiday Inn Select North Dallas, located at 2645 LBJ Freeway in Dallas, has been sold. The 217,789-square-foot, two-tower hotel features 14,223 square feet of meeting space and an indoor/outdoor atrium pool. Hank Wolpert of Colliers International's Dallas office represented the seller, LNR Property, in the transaction.
HOUSTON — Hudson Realty Capital has funded a $5.6 million bridge loan for a 275-unit, garden-style apartment complex, located in Houston's Sharptown/Westwood submarket. The 232,895-square-foot complex is 92 percent occupied and featues two swimming pools, a courtyard, laundry facilities, covered parking and patio/balconies for the units. The loan is being used toward the property's acquisition and capital improvements on behalf of the borrower, a multifamily property owner.
HOUSTON — Atlanta-based Post Properties plans to develop a 242-unit, $34.3 million apartment complex called Post Richmond Avenue, located in Houston. Post is anticipating a third quarter 2013 delivery for the apartment community. Post currently has more than 1,810 units in six apartment communities under development.
HUMBLE — Lexington Realty Trust, in a joint venture with an 85 percent equity partner, has acquired a 55,650-square-foot inpatient rehabilitation hospital, located in Humble, for $27.8 million. The property is leased to SRP Triumph NE Houston LP for a remaining 17 years. The obligations of the tenant under the lease are unconditionally guaranteed by RehabCare Group and Kindred Healthcare. The acquisition was partially funded by a $15.3 million non-recourse mortgage.
BRYAN — A joint venture between Orlando, Fla.-based Sentio Healthcare Properties and Dallas-based Caddis Partners has acquired the 114,583-square-foot Physicians Centre Medical Office Building, located at 3201 University Drive E. in Bryan, for $11.5 million. The property has a tenant roster of 32 primary care practices and is connected to The Physicians Centre Hospital.
DALLAS — Marcus & Millichap has arranged the sale of the 120-unit Quail Hollow, an apartment community located at 9666 Scyene Road in southeast Dallas. John Barker of Marcus & Millichap's Dallas office represented the seller, a private investor, in the transaction. The property is 95 percent occupied.
SOUTHLAKE — HFF has arranged $60 million in financing for the 310,711-square-foot Phase V of Southlake Town Square, an 840,288-square-foot, Class A lifestyle center located between Texas Highway 114 and Southlake Boulevard in Southlake. The mixed-use center has a roster of more than 150 tenants, which include Harkins Theatre, Cheesecake Factory, The Container Store, Banana Republic, Gap, Victoria's Secret and Brooks Brothers. Kevin MacKenzie and Jim Curtin of HFF arranged the 5-year loan through MetLife Real Estate Investments on behalf of the borrower, Retail Properties of America.
OKLAHOMA CITY — ARA has arranged the $77 million sale of The Lincoln at Central Park Apartments, a 708-unit community located at 500 Central Park Dr. in Oklahoma City. The property was built in two phases in 2007 and 2010 by the seller, Oklahoma City-based Gardner Tanenbaum Group, and sits on approximately 50 acres. Brian O'Boyle, Bart Wickard and Brandon Lamb of ARA represented the seller in the transaction.
DALLAS — A 92,000-square-foot medical office building, located at 10740 N. Central Expy. in Dallas, has been purchased for $25.5 million. Toby Scrivner, Jeff Matulis and Karen Vinsko of Stan Johnson Co. represented the seller, Texas Institute for Eyes, in the transaction and procured the buyer, California-based IRA Realty Capital.
