HOUSTON — GE Energy will invest $10 million into the development of a 50,000-square-foot oil and gas training facility, located at GE's Drilling System Technology Center in Houston. The facility is slated to open in the fourth quarter of 2012, and will create approximately 100 new technical jobs.
LEAGUE CITY — Satterfield & Pontikes Construction has finished the construction of a $4 million Park and Ride facility for Gulf Coast Center MHMR Connect Transit, located at the University of Texas Medical Branch Victory Lakes campus in League City. The project includes a 1,872-square-foot terminal building and parking for more than 400 cars. PGAL provided architectural and design services, and The Goodman Corporation and the Office of Facilities Planning & Construction for UTMB-Galveston provided management services.
HOUSTON — Cadence McShane has completed the construction on a 253,838-square-foot tenant improvement assignment for an industrial property, located within the Guhn Road Distribution Center at 6535 Guhn Road in Houston. Cadence McShane worked on behalf of Forum Energy Technologies, completing a 20,000-square-foot office component and customized research and development space. Richard Moody Architects provided architectural services for the project.
DALLAS — A 364-room Holiday Inn Select North Dallas, located at 2645 LBJ Freeway in Dallas, has been sold. The 217,789-square-foot, two-tower hotel features 14,223 square feet of meeting space and an indoor/outdoor atrium pool. Hank Wolpert of Colliers International's Dallas office represented the seller, LNR Property, in the transaction.
HOUSTON — Hudson Realty Capital has funded a $5.6 million bridge loan for a 275-unit, garden-style apartment complex, located in Houston's Sharptown/Westwood submarket. The 232,895-square-foot complex is 92 percent occupied and featues two swimming pools, a courtyard, laundry facilities, covered parking and patio/balconies for the units. The loan is being used toward the property's acquisition and capital improvements on behalf of the borrower, a multifamily property owner.
HOUSTON — Atlanta-based Post Properties plans to develop a 242-unit, $34.3 million apartment complex called Post Richmond Avenue, located in Houston. Post is anticipating a third quarter 2013 delivery for the apartment community. Post currently has more than 1,810 units in six apartment communities under development.
HUMBLE — Lexington Realty Trust, in a joint venture with an 85 percent equity partner, has acquired a 55,650-square-foot inpatient rehabilitation hospital, located in Humble, for $27.8 million. The property is leased to SRP Triumph NE Houston LP for a remaining 17 years. The obligations of the tenant under the lease are unconditionally guaranteed by RehabCare Group and Kindred Healthcare. The acquisition was partially funded by a $15.3 million non-recourse mortgage.
BRYAN — A joint venture between Orlando, Fla.-based Sentio Healthcare Properties and Dallas-based Caddis Partners has acquired the 114,583-square-foot Physicians Centre Medical Office Building, located at 3201 University Drive E. in Bryan, for $11.5 million. The property has a tenant roster of 32 primary care practices and is connected to The Physicians Centre Hospital.
DALLAS — Marcus & Millichap has arranged the sale of the 120-unit Quail Hollow, an apartment community located at 9666 Scyene Road in southeast Dallas. John Barker of Marcus & Millichap's Dallas office represented the seller, a private investor, in the transaction. The property is 95 percent occupied.
SOUTHLAKE — HFF has arranged $60 million in financing for the 310,711-square-foot Phase V of Southlake Town Square, an 840,288-square-foot, Class A lifestyle center located between Texas Highway 114 and Southlake Boulevard in Southlake. The mixed-use center has a roster of more than 150 tenants, which include Harkins Theatre, Cheesecake Factory, The Container Store, Banana Republic, Gap, Victoria's Secret and Brooks Brothers. Kevin MacKenzie and Jim Curtin of HFF arranged the 5-year loan through MetLife Real Estate Investments on behalf of the borrower, Retail Properties of America.
