AUSTIN — The 104-unit French Quarter Apartments, located at 2211 W. North Loop Blvd. in Austin, has been sold. Ellen Muskin of Austin-based Muskin Commercial represented the seller, La Jolla, Calif.-based French Quarter Apartments, LP, in the transaction. The buyer was an investment fund managed by Los Angeles-based Latitude Management Real Estate Investors. Brian Eisendrath of CBRE's Los Angeles office arranged new financing for the acquisition. Martine Properties will continue to manage the multifamily complex.
ABILENE — Marcus & Millichap has brokered the sale of the 84-unit The Camelot Apartments, a multifamily complex located at 5241 Alamo Dr. in Abilene. Mason Green and Boyan Radic of Marcus & Millichap's Fort Worth office represented both the buyer, a Florida-based limited liability company, and the seller, a California-based investor in the transaction. The complex was 98 percent occupied at the time of the sale.
ALLIANCE — HFF has arranged $24.5 million in financing for the 164,333-square-foot Heritage Commons IV, a Class A office building located at 13650 Heritage Pkwy. in Alliance. Tim Jordan and Travis Anderson of HFF's Dallas office arranged the 5-year loan through JPMorgan Chase Bank on behalf of the borrower, Global Income Trust. The building is fully leased.
FORT WORTH — NorthMarq Capital has arranged $21 million in a bridge loan refinancing for the 312-unit City Parc at Keller, a multifamily complex located at 4421 Ray White Rd. in Fort Worth. Joel Coykendall of NorthMarq's Jacksonville, Fla., office arranged the 3-year loan with a 30-year amortization schedule through G.E. Capital Real Estate.
DALLAS — Younan Properties has sold the 953,622-square-foot Energy Square, a three-building, Class A office property located at 4849 Greenville Ave. in Dallas. Champion Property Co. and Lincoln Property Co. purchased the portfolio in a joint venture with Boston-based Long Wharf Real Estate Partners. The property is 82 percent leased to tenants such as New York Life, Jacobs Engineering, Davaco, Homecare Homebase, Reeder Energy and Hartline Dacus Dreyer. Evan Stone, Jack Crews and John Alvarado of Jones Lang LaSalle's Dallas office represented the seller in the transaction, which is the largest transaction in the Dallas/Fort Worth metroplex in 2011.
DALLAS — The Joule, a luxury hotel located at 1530 Main St. in downtown Dallas, has started a $78 million renovation and expansion. The hotel upgrades will include addition of 31 guest rooms (including two three-story penthouses), a new 8,000-square-foot spa, a 600-square-foot screening room, a 1,350-square-foot recording studio, a second Charlie Palmer restaurant and expanded event spaces. Interior designer Adam Tihany is designing the interior upgrades. Construction is slated for a fall 2012 completion, and the hotel will remain open throughout the renovation.
SUGAR LAND — HFF has brokered the sale of the 143,410-square-foot Two Sugar Creek Center, a six-story office building located at 77 Sugar Creek Center Blvd. in Austin. The property is 72 percent occupied. Dan Miller, Trent Agnew and Brad Elmore of HFF's Houston office represented the seller's asset manager, National Asset Services, in the transaction. The buyer is a private Boston-based firm.
FORT WORTH — Marcus & Millichap has arranged the sale of a 13,807-square-foot Walgreens, located at 6328 Camp Bowie Blvd. in Fort Worth. Vincent Knipp, Chance Hales and Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, a personal trust, in the transaction. Knipp and Hales also procured the buyer, a partnership.
VALLEY VIEW — Local investor Megma has purchased a 114-acre land tract from John Porter Farms. Grant Brodeur of Henry S. Miller Brokerage's Dallas-Fort Worth office represented the buyer in the transaction, and Everette Newland of Denton-based Everette Newland Real Estate represented the seller.
HARLINGEN — Bass Pro Shops Outdoor World has opened a 150,000-square-foot store at Cameron Crossing, a retail development located at U.S. Highway 83 and Ohio in Harlingen. The Harlingen Economic Development Corp. owns the property and leased it to Bass Pro Shops. In addition to the new development, a new street and railroad crossing have been delivered. The railroad crossing is powered by solar panels, making it the first “green” railroad crossing in Texas.