HOUSTON — Calkain Cos. has arranged the $6.25 million sale of a 21,518-square-foot retail property in Houston that is leased to Wells Fargo. The lease term is 15 years. Andrew Fallon and Jerry Burg of Calkain Cos. represented the international buyer in the 1031 exchange.
TEXAS — Arbor Commercial Funding has arranged six loans totaling $33.47 million through Fannie Mae DUS and Fannie Mae DUS Affordable Housing Loan product lines for six multifamily properties. The communities include the 350-unit Park Village Apartments in Dallas, the 153-unit San Carlos Apartments in Dallas, the 50-unit Windsor Park Rental Homes in Fort Worth, the 309-unit Gardenview Apartments in Pasadena, the 122-unit Meadow Park Townhomes in Hewitt and the 140-unit Ridgeview Apartments in Sherman. Anthony Tarter of Arbor's Dallas originated the Fannie Mae loans for all six properties.
DALLAS — HFF has secured financing for three multifamily communities totaling 600 units, located in the Dallas suburbs of Grand Prairie, Arlington and Irving. The communities include the 154-unit Windscape Apartment Homes in Grand Prairie, the 236-unit Oakchase Apartment Homes in Arlington and the 210-unit Stoneleigh at Valley Ranch in Irving. Windscape is fully leased, Oakchase is 98 percent leased and Stoneleigh is 95 percent leased. John Brownlee of HFF arranged the financing through Freddie Mac's CME program on behalf of the borrower, Pure Multi-Family REIT LP.
HOUSTON — The Richland Companies has acquired the 104,091-square-foot Bay Plaza Office Complex, located at 711 W. Bay Area Blvd. in Houston. The six-story office property consists of glass-backed elevators, balconies on each floor, a conference facility, card-key access and manicured landscaping. The Richland Companies will assume the property's on-site management. The property is 89 percent to tenants such as British Petroleum (BP), San Jacinto College, Blue Moon Detective Agency, Hometrust Mortgage, Broadpoint, Texan Bank, Evergreen Tank Solution, MeCor and Select Medical.
SELMA — HFF has arranged a $58.7 million loan for a 510,092-square-foot portion of The Forum at Olympia Parkway, a 1.2 million-square-foot power retail center located at the intersection of Interstate 35 and Loop 1604 in Selma. Tenants of the property include Bed Bath & Beyond, Ross Dress for Less, Best Buy, PetSmart, Office Max, Old Navy, T.J. Maxx and Toys “R” Us. Greg LaBine, Andy Scott and Campbell Roche of HFF arranged the loan through Northwestern Mutual on behalf of the borrower, AVR Realty Co.
HOUSTON — Marcus & Millichap has arranged the sale of Buffalo Terrace, an apartment complex located near Montrose Boulevard and Allen Parkway in Houston. Sheri Carey of Marcus & Millichap's Houston office represented both the seller and buyer, both limited liability companies, in the transaction.
IRVING — Transwestern has brokered the sale of the 130-unit Tanner Place, an apartment community located at 3327 Willow Creek Drive in Irving. The complex includes eight two-story garden-style buildings. Mark Freeman, Taylor Snoddy and Philip Wiegand of Transwestern's Dallas office represented the seller, a special servicer client, in the transaction. HDC Agave Hill Country Equities was the buyer.
DALLAS — Stream Realty Partners has arranged Hudson Advisors/Lone Star's 110,652-square-foot lease renewal at The Tower at Cityplace, a 1.22 million-square-foot office complex located at 2711 N. Haskell Ave. in Dallas. Jeff Schweitzer, Sarah Erickson and Tommy Nelson of Stream Realty Partners represented the landlord, Barrow Street Capital, in the lease transaction. Dan Paterson of Swearingen Realty Group represented the tenant. The Tower at Cityplace is currently 85.7 percent leased and features a conference center, Larry North Fitness, food court, cafeteria and DART rail access.
CYPRESS — The Kroger Company has purchased 18 acres in the Towne Lake master-planned community, owned by Caldwell Cos., in Cypress to build a 120,000-square-foot store. Kroger will break ground in the fall at the southwest corner of Tuckerton Road and Barker Cypress. Besides the new Kroger, Towne Lake will also have a new mixed-use development known as The Boardwalk at Towne Lake, which will feature waterfront restaurants, shops and office space. The Boardwalk will break ground later this year and will include waterside parking for resident's boats.
WYLIE — B&B Theatres has begun construction of a 12-screen movie theater, located along FM 544 and Country Club Road in Wylie. Lewisville-based Parkway Construction Co. is the general contractor for the theater, which is slated to open in April 2013. The all-digital projection theater will feature stadium seating, leather high-back rocker-style seats and wall-to-wall curved screens.