HOUSTON — Berkeley Point Capital has provided a $40 million acquisition loan for the 380-unit AMLI Towne Square Apartments, located in Houston. The property will be renamed Standard on West Dallas. Ed Belz of Berkeley Point's Boston office arranged the seven-year loan through the Fannie Mae DUS lender program on behalf of the borrower, Baron Properties. The borrower plans to spend $4.4 million on capital improvements on the property.
SAN ANTONIO — NorthMarq Capital has secured $13.7 million in acquisition financing for the 384-unit Enclave Apartments, located at 2555 NE Loop 410 in San Antonio. Luke Donahue of NorthMarq's Phoenix office arranged the 10-year loan amortized over 30 years through Freddie Mac on behalf of the borrower, Enclave Communities.
HOUSTON — Q10 Kinghorn, Driver, Hough & Co. (KDH) has arranged construction/permanent financing for a 117,184-square-foot office/warehouse, located at the northeast corner of Heathrow Forest Parkway and Aldine Bender in the Interwood Business Park in Houston. Larry Peters of KDH's Houston office arranged the loan through a middle market bank in Houston on behalf of the borrower, SUHM Spring Works.
DALLAS — Chef John Coleman will open a restaurant and food kiosk in the new Klyde Warren Park, a 5.2-acre deck park built above Woodall Rodgers Freeway next to downtown and uptown Dallas. Savor, the restaurant, will be a gastropub featuring a custom mixology program. Bill Johnson of Atlanta-based Johnson Studios is designing the restaurant's interior. Savor will debut as a food truck until the restaurant is delivered in mid-2013. Relish, a permanent kiosk, will be a companion to Savor.
AUSTIN — Muskin Commercial has arranged the sale of the 122-unit Salem Walk Apartments, located in Austin. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, a Santa Rosa, Calif.-based partnership, in the transaction.
HOUSTON — Hendricks & Partners has brokered the sale of the 76-unit Memorial Trails, an REO, garden-style apartment complex located at 14900 Memorial Drive in Houston. Chris Ross, Mike Miller and Will Caruth of Hendricks & Partners' San Antonio office, along with Chris Malcolm of Hendricks & Partners' north Los Angeles branch, represented the seller, Newport Beach, Calif.-based Kinecta Federal Credit Union, in the transaction. The buyer was San Francisco-based FAOF Memorial Trails.
DALLAS — Jones Lang LaSalle has secured Crosstex Energy's 108,525-square-foot lease at Crosstex Court, a seven-story corporate office development previously known as Cedar Springs Plaza, located at 2501 Cedar Springs Road in uptown Dallas. Steve Thelen, Jeff Staubach, Torrey Littlejohn and Vince Burt of Jones Lang LaSalle represented the tenant in the lease transaction. Michael Dudley and Hunter Lee of CBRE Group represented the landlord, Caddo Holdings.
SAN ANTONIO — Johnson Capital has arranged $6.7 million in mezzanine financing for the construction of the 225-unit Tobin Lofts, an off-campus student housing development serving the students of San Antonio College, which owns the $30 million development. Tobin Lofts will also feature a retail component. NRP Group has begun developing the property, which will open prior to the fall 2013 semester. Austin-based Campus Advantage will manage the community upon completion. Ron Davis of Johnson Capitals' Dallas office arranged the loan through a national private equity fund, while a separate $20 million construction loan was provided by a regional bank.
PLANO — The Plano Independent School District has selected Cadence McShane to complete an 86,000-square-foot expansion project at Plano West Senior High School, located at 5601 W. Parker Road in Plano. The construction assignment includes building a two-story, 52,000-square-foot career/technology center and adding space to three campus buildings. The project is slated for a May 2013 completion. Dallas-based WRA Architects is providing architectural services for the construction/expansion project.
ALLEN — The owners of Jumpstreet have purchased a 62,332-square-foot retail property that was once leased to Albertsons. The property is located at 2031 W. McDermott Drive in Allen. John Zikos, Christopher Gibbons, Amy Pjetrovic-Hunnicut and Chris Booras of Venture Commercial represented the seller, Albertsons, in the transaction. The Venture Commercial brokers are representing Albertsons in the disposition of all their north Texas stores. Dallas-based Newmark Real Estate and Mike Quinlan of Denver-based Newmark Knight Frank Frederick Ross represented the buyer in the transaction.
