DALLAS — Irvine, Calif.-based The Bascom Group has purchased the 272-unit Villas at Monterey, an apartment community located at 15534 El Estado Dr. in Dallas. The complex's amenities include two swimming pools, a community playground, five laundry rooms, storage rooms and a standalone leasing center. Entrada Partners will manage the property. Bascom was self-represented by Andrew Newton, Jeffrey Fuller and Paul Miszkowicz. The apartment community is Bascom's 20th Texas property.
FORT WORTH — Marcus & Millichap has brokered the sale of a 4,701-square-foot retail building, a two-tenant property located on the southwest corner of Camp Bowie Boulevard and Hulen Street in Fort Worth. Vincent Knipp and Chance Hales of Marcus & Millichap's Fort Worth office represented the seller, a California-based private partnership, in the transaction. Knipp also procured the buyer, a local partnership.
PEARLAND — HFF has arranged $12 million in refinancing for the 76,048-square-foot Shadow Creek Business Center, a Class A office building located along Shadow Creek Parkway in the Shadow Creek Ranch community in Pearland. Colby Mueck of HFF's Houston office led the team that arranged the 10-year loan through Ladder Capital Finance on behalf of the borrower, ZT Group Business Center One. The property is currently 92 percent leased.
AUSTIN — Marcus & Millichap has brokered the sale of the 129-unit Fountainhead, a multifamily property located at 4100 Victory Dr. in Austin. Kent Myers and Joe James of Marcus & Millichap's Austin office represented the seller in the transaction and procured the buyer, both of which were partnerships.
HOUSTON — Houston-based NewQuest Properties has arranged the sale of a 3.47-acre land tract, located on Post Oak Boulevard and Transco One Drive in the heart of Houston's Galleria area. The buyer, Alliance Communities, plans to build a 272-unit, five-story multifamily building with a parking garage on the site. The project is slated for a first quarter 2014 completion. Cullen Kappler of NewQuest Properties represented the seller, Whitney National Bank, in the transaction. The buyer was self-represented by Brian Austin of Alliance Communites' Houston office.
CARROLLTON — Pie Five Pizza Co., a subsidiary of Pizza Inn Holdings, has opened its sixth restaurant, located at 3400 E. Hebron Parkway in Carrollton. The property is more than 2,000 square feet and seats approximately 70 people.
HOUSTON — CEF Funding, a Delaware limited liability company, has retained Houston-based Moody Rambin as the exclusive property management and leasing agent for a three-building office portfolio, located at 16840 and 16850 Buccaneer Ln. and 1045 Gemini St. in Houston. The portfolio includes approximately 80,000 square feet of Class B office space and 50,000 square feet of research and development space. Rob Chandler of Moody Rambin will represent the seller in the disposition of the Class B building, Walter Cameron will oversee the building's property management and Derek Beck and Jeff Barbles will handle the property's leasing.
DALLAS — Dallas-based Capital Senior Living has acquired five senior living communities in Texas and Indiana for $49.4 million, which include independent living, assisted living and memory care facilities. The communities were financed with $37.5 million of 10-year fixed rate debt. The properties have an average 94 percent occupancy and average monthly rents of approximately $3,200.
SAN ANTONIO — The University of Texas-San Antonio (UTSA) has selected HKS Sports & Entertainment Group to build a sports complex on the 125-acre UTSA Park West Campus. The complex will be constructed in multiple phases, and Phase I will include the construction of a 1,000-seat soccer stadium, a 1,000-seat track-and-field stadium and a 500-space parking lot. HKS is working with San Antonio-based Overland Partners Architects on the project's design. Bartlett Cocke General Contractors is providing construction services for Phase I, which is slated for completion in fall 2013.
ARLINGTON — Marcus & Millichap has arranged the sale of the 40,230-square-foot Matlock Mayfield Village, a retail center located at 3330 Matlock Rd. in Arlington. The property is currently 70 percent occupied. Bill Jordan of Marcus & Millichap's Fort Worth office represented the seller, a local limited liability company, in the transaction and procured the buyer, an out of state limited liability company.
