NEW BRAUNFELS — Construction has commenced on the 84-acre Resolute Health Wellness Campus, a medical campus located adjacent to Creekside Town Center at the intersection of FM Road 306 and FM Road 1101 in New Braunfels. The development will include a 190-bed hospital, an urgent care center, fitness and spa centers, health-minded shops, healthy dining and green spaces. Construction is expected to be complete in 2013. Resolute Health will also open its Family Urgent Care Center on April 3 at Creekside Town Center, located at 160 Creekside Way, Suite 602 in New Braunfels. Creekside was developed by Houston-based NewQuest Properties and Cedar Falls, Iowa-based Lockard Cos.
CORPUS CHRISTI — Cedar Falls, Iowa-based Lockard Cos. has joined Dolphin Ventures and EWB Development to develop Phase I of The Outlets at Corpus Christi Bay, a 281,526-square-foot retail development located at the Interstate 69 corridor at Highway 44 in Corpus Christi. Lockard will be active in developing and constructing the property and EWB will co-develop, market and lease the project. The Outlets is slated for a late 2013 opening.
DALLAS — Hendricks & Partners has arranged the sale of the 360-unit Cliff Park Village, a multifamily property located at 220 E. Overton Rd. in Dallas. The property has recently undergone capital improvements. Peter Hartnett of Hendricks & Partners' Dallas office represented the seller, BACM 2007-2 Cliff Park Apartments LLC, in the transaction. The seller is managed by San Francisco-based Helios AMC LLC. The buyer was New Orleans-based 220 Overton Apts. Dallas LLC.
HOUSTON — R. Hassell has sold an 11,760-square-foot office building, located at 3550 Willowbend in Houston, to Omricron Electronics Corp. Lang Motes and Jane Holloway of ICO Commercial's Houston office represented the seller in the transaction. Noah Kruger and Andy Iverson of Jackson Cooksey's Houston office represented the buyer.
AUSTIN — Dallas-based Brand Capital Partners has brokered the sale of a 44,000-square-foot land tract, located at the northwest corner of RR 620 and Wilson Park Avenue in Austin. The land is the site of a Whataburger ground lease. Jeff Brand and Ashley Bentler of Brand Capital represented the buyer, an Austin-based investor, in the transaction. Jason Middlebrook with SRS Real Estate Partners' Austin office represented the seller, 69 Grandview LP.
IRVINE, CALIF. — Irvine-based WNC & Associates has closed WNC Institutional Tax Credit Fund 35, a $100 million multi-investor Low Income Housing Tax Credit fund that will finance 18 affordable housing properties across 11 states, including Texas and Oklahoma. The 1,134-unit portfolio encompasses 12 properties for families and six for senior citizens. WNC partnered with 18 different developer teams for the fund, half of which were repeat clients. The fund also closed with seven institutional investors, including five banks and two national insurance companies.
EDMOND, OKLA. — Steadfast Income REIT has acquired the 252-unit Spring Creek of Edmond, a multifamily community located at 777 E. 15th St. in Edmond, for $19.35 million. The property has recently undergone a $5.4 million renovation that replaced roofs and windows, added granite countertops, installed new kitchen and bath cabinetry and placed new vinyl wood flooring. The community is Steadfast's 11th acquisition but the first in Oklahoma.
GRAND PRAIRIE — Dry Force has purchased a 65,000-square-foot office/warehouse property, located at 1829 W. Shady Grove in Grand Prairie, which will serve as the company's new headquarters. The 4-building property features 34,000 square feet of office space and 31,000 square feet of warehouse space. The new headquarters will host approximately 50 employees. Pete Richardson and Drew Richardson from Cushman & Wakefield of Texas' Dallas office represented the buyer in the transaction.
DALLAS — Dallas-based Metropolitan Capital Advisors (MCA) has secured a $19.5 million permanent financing package with a CMBS lender to refinance the Sunwest Portfolio. The portfolio consists of 25 retail properties in eight states. Twenty of the properties are owned fee-simple and the rest have ground leases. Dallas-based Rainier Capital Management is the loan's sponsor and Dallas-based Emersons Commercial Management manages the properties. Sunny Sajnani of MCA arranged the loan with a 10-year fixed interest rate. The amortization schedule for the fee-simple properties are 30 years, while the ground lease properties have shorter amortization periods.
DALLAS — Dallas-based Hudson Peters Commercial has been awarded the leasing assignment for the 145,365-square-foot Pyramids Office Tower, a Class A office building located at 9201 N. Central Expy. in Dallas. Sanober Syed and Cincha Ko stman of Hudson Peters Commercial are performing the marketing and leasing duties for the property. The office tower is owned and managed by Healthcare Realty.