Texas

ST. ANTHONY HOTEL SELLS, TO UNDERGO $24M RENOVATION

by admin May 23, 2012

SAN ANTONIO — BC LYND Hospitality, a joint venture between San Antonio-based LYND and BC Commercial Partners, has purchased the historic St. Anthony Hotel, a 103-year-old, 352-room hotel located at 300 E. Travis St. in downtown San Antonio. The hotel is listed as a National Historic Landmark. BC LYND is planning a $24 million renovation of the hotel that will include a new brand affiliation (Starwood Luxury Collection), new decor, updated meeting and function spaces, a new restaurant and a rooftop bar. IBC Bank provided debt financing for the acquisition and renovation of the hotel. Bill Stadler and John Bourret of HFF represented the seller, Berkadia , in the transaction.

May 23, 2012

CENTENNIAL ACQUIRES THE CROSSING SHOPPING CENTER

by admin May 23, 2012

RICHLAND HILLS — Centennial Real Estate Co. has purchased The Crossing, a 247,720-square-foot shopping center located at the northwest corner of Grapevine Highway and Precinct Line Road in Richland Hills. Kohl's anchors the center and Kroger Signature is a shadow anchor. Centennial will manage the center, and Greg Pierce and Rob Solls of UCR will handle the property's leasing.

May 23, 2012

Restaurant Texas

M&M BROKERS PIZZA HUT SALE

by admin May 23, 2012

HOUSTON — Marcus & Millichap has arranged the sale of a 1,504-square-foot retail property, located at 17500 NW Freeway in Houston, which is ground leased to Pizza Hut. Vincent Knipp of Marcus & Millichap's Fort Worth office represented the seller, a limited liability company, in the transaction. Glen Kunofsky and Judson Kauffman of Marcus & Millichap's Manhattan office represented the buyer, an individual trust. Pizza Hut has operated the location since 1991 and recently extended its lease on the property by 10 years.

May 23, 2012

Office Texas

NORTHMARQ ARRANGES $3M OFFICE LOAN

by admin May 23, 2012

DALLAS — NorthMarq Capital has secured $3 million in first mortgage refinancing for the 301,378-square-foot One Graystone Center, an office building located at 3010 LBJ Freeway in Dallas. Paul Brighton of NorthMarq's Dallas office arranged the loan through a bridge lender.

May 23, 2012

Retail Texas

VICTORY PARK TO UNDERGO REDEVELOPMENT

by admin May 22, 2012

DALLAS — Germany-based Victory Park UST Joint Venture I is partnering with Trademark Property Co. to plan and execute the redevelopment of its retail holdings in the southern district of Victory Park, a 75-acre mixed-use development located in downtown Dallas. Trademark will develop and implement a merchandising and leasing strategy for the ground floor retail space and undeveloped land along Victory Park Lane, the ground floor retail space in The Cirque and the 436,000-square foot One Victory Park, a 20-story Class A office building. The property is managed by Orlando, Fla.-based Estein & Associates USA.

May 22, 2012

Multifamily Texas

INVESTCORP ACQUIRES INTEREST IN MULTIFAMILY PORTFOLIO

by admin May 22, 2012

HOUSTON — Investcorp has acquired an interest in four adjacent multifamily properties, located in the Copperfield master-planned community in northwest Houston. The four properties total 1,076 units and are currently 95 percent occupied. The portfolio has also recently undergone a $6 million renovation. The seller, MHP Investments, will retain an interest in the portfolio. Investcorp financed the transaction with 10-year, fixed-rate loan.

May 22, 2012

Multifamily Texas

IPA BROKERS AMLI AT BRECKINRIDGE POINT SALE

by admin May 22, 2012

RICHARDSON — Institutional Property Advisors (IPA) has arranged the sale of the 440-unit AMLI at Breckinridge Point, a 426,390-square-foot luxury multifamily community located at 4250 E. Renner Road in Richardson. Will Balthrope and Drew Kile of IPA represented the seller, Chicago-based AMLI Residential Properties, in the transaction. Los Angeles-based JRK Property Holdings was the buyer. The property is currently 95 percent occupied. IPA is a recently formed multifamily brokerage division of Marcus & Millichap.

May 22, 2012

Multifamily Texas

TRANSWESTERN ARRANGES FINANCING FOR THE AUSTONIAN

by admin May 22, 2012

AUSTIN — Transwestern has secured refinancing for The Austonian, a 56-story high-rise residential tower located at 200 Congress Ave. in downtown Austin, 9 blocks from the State Capitol. Jan Sparks and Michael Snodgrass of Transwestern's Houston office arranged the financing on behalf of Grupo Villar Mir/Benchmark Development, operating as Second Congress, Ltd.

May 22, 2012

Office Texas

HARTMAN INCOME REIT LEASES SPACE TO FIRST FINANCIAL

by admin May 22, 2012

HOUSTON — Houston-based Hartman Income REIT has leased 25,506 square feet of office space, located at 11811 N. Freeway in Houston, to First Financial Group of America. Michelle Wogan, Evelyn Ward and Dani Allison of Transwestern represented the landlord in the 10-year lease transaction.

May 22, 2012

Industrial Texas

DCT INDUSTRIAL ACQUIRES TWO INDUSTRIAL PROPERTIES

by admin May 21, 2012

HOUSTON — DCT Industrial Trust has acquired the 98,000-square-foot DCT Claymoore Center, two Class A industrial properties located in Houston's Northwest submarket, in an off-market transaction. The properties are 95.8 percent leased, and this acquisition brings DCT Industrial's Houston portfolio to 3.5 million square feet.

May 21, 2012

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