Texas

IRVING — HFF has arranged $47.75 million in refinancing for The Shores at Las Colinas, a 908-unit, Class A multifamily property located at 385 E. Las Colinas Blvd. in Irving. The multifamily community is currently 88 percent leased and offers frontage on Lake Carolyn, European-style courtyards, five swimming pools, parking garages, a fitness center and club room. Steve Heldenfels, Bob Herron and Mona Carlton of HFF arranged the three-year loan through Capital One on behalf of the borrower, Boston-based Metropolitan Properties of America.

AUSTIN — Trammell Crow Co., through its subsidiary High Street Residential and in partnership with USAA Real Estate Co., has commenced construction on Phase II of Midtown Commons, a Class A multifamily community located at the intersection of Lamar and Airport boulevards in Austin. The 246-unit Phase II will feature a 189,419-square-foot, four-story building and a 98,156-square-foot, five-story parking structure. Phase II will also include a resort-style pool, lounge area, bar, yoga room, business center, fitness center, game room and a dog park. Amegy Bank of Texas provided construction financing for the property, which is slated to deliver its first units in early 2013.

CARROLLTON — The Praedium Group and San Antonio-based Internacional Realty have acquired The Residences at the Collection, a 312-unit multifamily property located in Carrollton. The community features a resort-style pool with a sundeck, a spa, fitness center, business center, clubhouse, billiards room, game room and covered parking. The newly constructed complex was developed by Embrey Partners.

HOUSTON — ARA has arranged the sale of the 190-unit Bay House, located in Houston. Cliff McDaniel, Russell Jones and Zach Springer represented the seller, New York-based Whitney Capital Co., in the transaction. Houston-based Midas Equity was the buyer.

DALLAS — Marcus & Millichap has brokered the sale of the 150-unit Andora Apartments, located at 3302 Linda Drive in Dallas. John Barker of Marcus & Millichap's Dallas office represented the seller and buyer, both local limited liability companies, in the transaction.