HOUSTON — Wood Partners has plans to build the 256-unit Alta Heights, an apartment community located at 145 Heights Blvd. in Houston's Washington Corridor. The community will include amenities such as granite countertops, stainless steel appliances, under-mount sinks, subway tile backsplashes, washer/dryers included and garden tubs in select units. The property will also offer a courtyard, pool, outdoor kitchen with TV, a fitness center and a club room with kitchen and bar areas. Womack + Hampton has designed the property and Heights Avenue Builders will complete construction, which is slated to begin May 2012 and be completed by October 2013.
HOUSTON — HFF has arranged the sale of the 256,265-square-foot Commerce Center, an eight-building industrial property located at 9000 SW Freeway in southwest Houston. The property is leased to 40 tenants. Rusty Tamlyn and Trent Agnew of HFF represented the seller, Insite Commercial Real Estate, in the transaction. Agarita Management purchased the property. Kirk Oden of Trinity Finance's San Antonio office arranged acquisition financing through American Family Life Insurance.
HOUSTON — Carroll Organization has acquired the 267-unit Waterford Place, an apartment community located at 3125 Crestdale Dr. in Houston. The complex will soon be re-branded as ARIUM Fall Creek. The property features chef's kitchens, a resort-style pool, garages, a WiFi computer lounge and a fitness center. The community was financed through Carroll Fund I, a private fund, and Carroll Management Group is managing the property.
COLLEGE STATION — Hunington Properties has brokered the sale of the 7,691-square-foot College Station Shopping Center, located on University Drive in College Station. The property is fully leased to national tenants including Papa John's Pizza and David's Bridal. Sandy Aron of Hunington Properties represented the seller in the transaction.
PLANO — Trammell Crow Co. and a subsidiary of One Liberty Properties has formed a joint venture to develop Legacy Towers, a proposed office property featuring two Class A office buildings totaling approximately 533,500 square feet, located at the southeast corner of the Dallas North Tollway and Legacy Drive in Legacy Business Park in Plano. Phase I is slated to be an approximately 341,000-square-foot, 13-story office building featuring a landscaped drive-up lobby and courtyard. Phase I will be designed to achieve LEED Gold certification. Phase II will be a 192,500-square-foot, 7-story office building. Construction of Phase I is slated to begin in 2013.
HOUSTON — Alliance Residential Co. has commenced construction on the 272-unit Broadstone Post Oak, a five-story luxury apartment community located in the Lakes of Post Oak development in Houston's Galleria submarket. The clubhouse and first units are expected to be be delivered in the second quarter of 2013, and completion is slated for the end of 2013. The property features 500 feet of private lake frontage. Amenities will include a business center, iCafe, resident lounge, climate-controlled corridors, two-story fitness center overlooking a lake and two courtyards.
FORT WORTH — Dallas-based Venture Commercial represented Hillwood Communities in the sale of 20 acres, located on North Tarrant Parkway between Ray White Boulevard and Highway 377 in north Fort Worth. The site will be the home of the 322-unit The Sovereign, a luxury apartment community. Atlanta-based Davis Development purchased the property and is anticipating breaking ground in late 2012. Ken Reimer and David Davidson of Venture represented the seller in the transaction.
AUSTIN — The Weitzman Group has arranged the sale/leaseback of the 9,280-square-foot 3011 North Lamar Boulevard, a multi-tenant office building just north of The University of Texas' campus in Austin. Brad Bailey of The Weitzman Group's Austin office represented the buyer, a local family partnership, in the transaction.
DALLAS — Walker & Dunlop has provided $6 million in financing for the 357-unit Villas at Montierra, an affordable housing property located in Dallas. Walker & Dunlop arranged the 10-year loan with a 30-year amortization schedule. The property was 88 percent leased and features a playground, laundry facilities, a courtyard, picnic area with barbecue grills, mail center, access gates and two swimming pools.
IRVING — HFF has secured $75 million in refinancing for the 506-room Westin DFW Airport, located at 4545 W. John Carpenter Fwy. in Irving, less than 2 miles away from the Dallas/Fort Worth International Airport. Mike Tepedino and Michael Gigliotti of HFF's New York City office and John Bourret of the firm's Dallas office arranged the financing through J.P. Morgan Chase Bank on behalf of the borrowers, Investcorp International and The Procaccianti Group. The hotel features 38,000 square feet of meeting space, a business center, restaurant with bar and lounge, a fitness center and a heated outdoor pool.