AUSTIN — Atlanta-based Apartment Realty Advisors has arranged the sale of the 367-unit, 1,026-bed Jefferson 26, a Class A student housing property located at the University of Texas – Austin's West Campus. The property was 97 percent occupied at the time of the sale and features a clubhouse, pool, spa, fitness center, tanning beds, a rooftop garden and a game room. Patton Jones, Chris Bancroft and Chris Epp of ARA's Austin office represented the seller, Jefferson at West Campus LP, in the transaction. Austin-based American Campus Communities was the buyer.
LEWISVILLE — Marcus & Millichap has brokered the sale of the 19,896-square-foot Baylor Surgicare at Lewisville, a medical office building located at 1854 Lakepointe Dr. in Lewisville. Chris Gomes and Ashish Vakhariya of Marcus & Millichap's Detroit office represented the seller, a partnership, in the transaction. Vakhariya also represented the buyer, a limited liability company. Tim Speck of Marcus & Millichap's Dallas office assisted in closing the transaction.
DALLAS — NorthMarq Capital has arranged $36.5 million in first mortgage financing for a Class A apartment complex, which has more than 500 units, in Dallas. Michael Elmore of NorthMarq's Los Angeles office and Paul Brighton of the firm's Dallas office arranged the 7-year loan with a 30-year amortization schedule through Freddie Mac's Capped ARM program.
THE WOODLANDS — Michel Kors will open a 2,659-square-foot store at Market Street — The Woodlands, an approximately 500,000-square-foot open air shopping and entertainment center that features merchants Tiffany & Co., Brooks Brothers, Allen Edmonds, Ann Taylor and L'Occitane, as well as the 70-room AVIA hotel and 17 restaurants. Market Street is located at 9595 Six Pines Dr. in The Woodlands and is owned by a joint venture between Trademark Property Co. and Institutional Mall Investors.
DALLAS AND FORT WORTH — Rick's Cabaret International through RCI Holdings, its subsidiary, has purchased two tracts of land currently housing adult nightclubs, located at 12325 Calloway Cemetery Rd. in Fort Worth and 2151 Manana Dr. in Dallas, for $5.5 million. Rick's Cabaret paid $2 million in cash and the other $3.5 million is being financed by the seller.
GRAPEVINE — Regions Bank has sold a 26,240-square-foot, two-building office property, located at 1900 Enchanted Way in Grapevine, to Capital Commercial. Kevin Santaularia, Todd Lambeth and Joe Santaularia of Dallas-based Bradford Commercial Real Estate Services represented the seller in the transaction.
SAN ANTONIO — Austin-based Linsalata Realty Services has brokered the sale of a 6,427-square-foot shopping center, located at 6620 FM 78 in San Antonio. The property is fully leased to three tenants. Joe Linsalata of Linsalata Realty Services represented the buyer, Kim and Peter Tran, in the transaction. Dick McCaleb of San Antonio-based RFM Commercial represented the seller. Bruce Graham of Chase Bank of Austin was the loan officer for the acquisition financing.
HOUSTON — HFF has arranged the sale of a 65-acre land parcel owned by City Bank consisting of two sites, located at the intersection of Beltway 8 and West Lake Houston Parkway and on the southern side of West Lake Houston Parkway. Davis Adams of HFF's Houston office led the team to represent the seller in the transaction. Trillium Group purchased the property at an undisclosed price.
DALLAS — Addison-based TriVest Residential has merged with Dallas-based Henry S. Miller Family of Cos. and will operate under Henry S. Miller Realty Management. TriVest's management portfolio includes 6,000 multifamily units in the southwest, as well as medical, office and retail properties. TriVest will move its Addison office to Henry S. Miller's Dallas/Fort Worth corporate office at Providence Towers.
HOUSTON — Los Angeles-based TPG/CalSTRS, an affiliate of Thomas Properties Group, has sold the 806,004-square-foot Brookhollow Central, a three-building office property located 2800 N. Loop W. in Houston, for $8 million after closing costs and mortgage debt repayment. The sale comes after Thomas Properties Group repositioned the complex, including Comerica Bank's 220,000-square-foot lease.