OKLAHOMA CITY — Carter Validus Mission Critical REIT has purchased the 35,000-square-foot HPI Integrated Medical Facility, located in Oklahoma City, for $9.27 million. The property is fully leased to Healthcare Partners Investments (HPI).
HOUSTON — Frontier Equity has acquired the 286,000-square-foot Kirkwood Tower III, a 15-story, Class A office building located in Houston's Energy Corridor. Frontier purchased the property in a partnership with Amstar Advisers. The property is currently 72 percent leased, and PM Realty Group is handling the office building's leasing activity. HFF assisted Frontier Equity in securing acquisition financing, and Holt Lunsford Commercial will manage the property.
HOUSTON — Lowe Enterprises Investors (LEI) has purchased the 314-room Hotel Derek, an independent, 14-story boutique hotel located at 2525 W. Loop S. in Houston's Galleria submarket. LEI purchased the hotel on behalf of a joint venture the firm formed last year with The Guardian Life Insurance Co. Destination Hotels & Resorts, an LEI affiliate, will take over the hotel's management. LEI plans to invest $4.5 million to revamp the guest rooms and common areas, as well as update the hotel's technology. The hotel features a business center, fitness center, a 4,800-square-foot ballroom, an outdoor pool and the Valentino Restaurant and Vin Bar. LEI was self-represented in the transaction. Eastdil Secured represented the seller, and Wells Fargo provided debt financing.
AUSTIN — Dungan Storage Warehouse, a 14,000-square-foot, 18-unit self storage facility located at 1706 Dungan Lane in Austin, has sold. The purchase also includes undeveloped land that is currently being used for commercial and recreational parking. Joe Linsalata of Linsalata Realty Services represented the seller in the transaction. The buyer, Kenan Hemingway Investment Corp., was self-represented by Gregg Hemingway.
EL RENO, OKLA. — Northbrook, Ill.-based The Boulder Group has brokered the $4.89 million sale of a 13,650-square-foot Walgreens property, located at 1550 SW 27th St. in El Reno. The property is fully leased to Walgreens with 22 years remaining on the lease term. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, an Oklahoma-based developer, in the transaction. The buyer was an individual investor from South Dakota.
HOUSTON — Satterfield & Pontikes Construction has been awarded a $1.2 million expansion project for a testing laboratory in Houston. The 9,200-square-foot project includes a 4,600-square-foot addition along with renovations to the existing 4,600-square-foot laboratory, which belongs to Goodman Manufacturing Co. The construction will include upgrading HVAC systems, improving electrical systems, plumbing upgrades, thermal protection, fire suppression and window/door glazing.
DALLAS — The Weitzman Group has arranged the sale of an 8,300-square-foot grocery store, located at 4405 Ross Ave. at Ashby Street in Dallas. Daniel Rivas of The Weitzman Group represented the buyer, Dallas-based Scarsdale One, in the transaction. The Weitzman Group will handle the property's leasing.
HOUSTON — LMI Capital has secured $9.2 million in refinancing for three Houston-area multifamily properties. Brandon Brown of LMI Capital arranged all three loans through LMI Capital's Fannie Mae sources. The three properties include the 190-unit Pelican Pointe Apartments in southwest Houston, the 101-unit Park Place Apartments in Pearland and the 113-unit Stoneybrook Apartments in west Houston. Brown arranged a seven-year loan for Pelican Pointe, a 10-year loan for Park Place and a 10-year loan for Stoneybrook.
SUNRAY — Marcus & Millichap has arranged the sale of a 8,000-square-foot Family Dollar, located at the southwest corner of Main and Fifth streets in Sunray. Edward Benton of Marcus & Millichap's Houston office represented the seller, a developer, in the transaction. The Family Dollar sold for $950,000.
DALLAS — McCarthy Building Cos. has been awarded a $23 million, design/build facilities project at the U.S. Department of Veterans Affairs (VA) Dallas Medical Center. The project is the company's first stand-alone, combined heat and power (CHP) cogeneration (COGEN) facility.The project will include a new electrical building and turbine shelter.