CARROLLTON — Brook Furniture Rental has moved its metropolitan Dallas showroom to a 43,000-square-foot facility, located at 2100 Luna Rd., Ste. 100 in Carrollton. The new property is twice as big as the original location. Conrad Madsen of Lee & Associates represented the tenant in the multi-year lease transaction. The landlord, Billingsley Co., was self-represented by Carter Crow.
AUSTIN — ARA has arranged the sale of the 178-unit Lantern Hill, a 1960s vintage apartment complex located at 1550/1501 Reagan Hill Dr. in Austin. The garden-style property is currently 95 percent occupied. Andrew Shih of ARA's Austin office represented the seller, a California-based investor in a 1031 exchange, in the transaction. San Diego, Calif.-based Quez Capital purchased the property, which is their second apartment acquisition in Austin. Quez is planning on replacing the roof, landscaping the property and installing a new playground. Austin-based Green Bank provided acquisition financing for the transaction.
AUSTIN — The Weitzman Group has brokered the sale of the 10,500-square-foot Sunset Plaza, a neighborhood retail center located at 8774 W. Adams Ave. in Austin. Brad Bailey and Logan Reichle of Weitzman's Central Texas office represented the seller, an Austin-based development company, in the transaction. The buyer was a Temple-based investor. Sunset Plaza is fully leased to tenants such as Anytime Fitness, Sol de Jalisco Mexican restaurant, Best Cuts and Insurance Network of Texas.
FORT WORTH — Arbor Commercial Funding has provided $11.55 million in acquisition financing for the 784-unit Ladera Palms, a multifamily property located at 4500 Campus Dr. in Fort Worth. The Fannie Mae DUS loan has a 10-year term and a 30-year amortization schedule. The property features six in-ground swimming pools, a playground, a basketball court, a fitness center and three tennis courts.
HOUSTON — HFF has arranged a $10 million refinancing for the 59,873-square-foot 610 & San Felipe Shopping Center, located at the northeast corner of Loop 610 and San Felipe Street in Houston. Robert Wooten of HFF arranged the 20-year, fixed-rate loan through Lincoln Financial Group on behalf of the borrower, 610 & San Felipe, Inc. The fully leased property is anchored by Ashley Furniture and includes tenants such as David's Bridal, Starbucks, Antone's and Jack in the Box.
HOUSTON — Avison Young has signed an agreement with Irvine, Calif.-based The Khoshbin Company to provide marketing and leasing services for two Houston office properties: the 213,777-square-foot 333 North Belt and the 181,647-square-foot Towerpark North. The North Belt property is located at 333 N. Sam Houston Pkwy. E. and Towerpark North is located at 10700 N. Freeway.
DALLAS — Beck Ventures has purchased the 1.65 million-square-foot Valley View Center, a regional mall located at the intersection of Preston Road and LBJ Freeway in Dallas, to be part of a $2 billion mixed-use project known as Dallas Midtown. Jack Crews, John Alvarado and Evan Stone of Jones Lang LaSalle represented the seller, LNR Partners, in the transaction.
HOUSTON — Wood Partners has plans to build the 256-unit Alta Heights, an apartment community located at 145 Heights Blvd. in Houston's Washington Corridor. The community will include amenities such as granite countertops, stainless steel appliances, under-mount sinks, subway tile backsplashes, washer/dryers included and garden tubs in select units. The property will also offer a courtyard, pool, outdoor kitchen with TV, a fitness center and a club room with kitchen and bar areas. Womack + Hampton has designed the property and Heights Avenue Builders will complete construction, which is slated to begin May 2012 and be completed by October 2013.
HOUSTON — HFF has arranged the sale of the 256,265-square-foot Commerce Center, an eight-building industrial property located at 9000 SW Freeway in southwest Houston. The property is leased to 40 tenants. Rusty Tamlyn and Trent Agnew of HFF represented the seller, Insite Commercial Real Estate, in the transaction. Agarita Management purchased the property. Kirk Oden of Trinity Finance's San Antonio office arranged acquisition financing through American Family Life Insurance.
HOUSTON — Carroll Organization has acquired the 267-unit Waterford Place, an apartment community located at 3125 Crestdale Dr. in Houston. The complex will soon be re-branded as ARIUM Fall Creek. The property features chef's kitchens, a resort-style pool, garages, a WiFi computer lounge and a fitness center. The community was financed through Carroll Fund I, a private fund, and Carroll Management Group is managing the property.
