DALLAS — Grapevine-based SQN Realty Finance and Houston-based Allen Harrison Co. have partnered to purchase the 240-unit Chimney Hill Apartments, located at 9637 Forest Ln. in Dallas. The property is approximately 90 percent occupied and is undergoing renovations. AHC Construction, an affiliate of Allen Harrison Co., will oversee property renovations, and Houston-based Mosaic Residential will manage the apartment complex.
HOUSTON — NAI Houston has arranged the sale of a 18,250-square-foot manufacturing facility, located at 11010 Wallisville Rd. in Houston. Chris Kugle and John Ferruzzo of NAI Houston represented the buyer, Zinc Texas Real Estate, in the transaction. Ryan Fuselier of Jones Lang LaSalle's Houston office represented the seller, Covalence Specialty Adhesives.
HOUSTON — Marcus & Millichap has brokered the sale of the 10,300-square-foot North Main Shopping Center, located at 2124 N. Main St. in Houston. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a private investor, in the transaction.
FORT WORTH — Hillwood Communities has entered into a joint venture with Dallas-based Realty Capital Management to develop approximately 1,000 acres of land, located at the northwest corner of Interstate 35 West and FM 407 between Fort Worth and Denton, for a new master planned community known as Belmont. The project will feature 130 acres for mixed-use developments and 2,500 residential homes. The joint venture is expecting to break ground on the development in the summer of 2012.
BRYAN — A $26 million, 130,000-square-foot clinical facility, located on the Texas A&M Health Science Center Bryan campus in Bryan, has been completed. The Class A office, clinical and educational facility will serve the Texas Brain and Spine Institute, Mary Crowley Cancer Research Centers and Blinn College Allied Health programs, as well as the Texas A&M Health Science Center College of Medicine. Rose Rock Capital and U.S. HealthRealty developed the project and provided financing, BOKA Powell was the programmer, designer and architect of record, and Skanska USA Building provided construction manager services.
COLLEGE STATION — Woodridge College Station, an affiliate of Los Angeles-based Woodridge Capital Partners, has plans with Capstone Collegiate Communities to develop the Plaza at College Station, located on an 11.6-acre site at University Drive and Texas Avenue in College Station. The property will combine student housing with retail, restaurants and public spaces. Humphreys & Partners Architects will design the development, which is slated to break ground in summer of 2012.
SAN ANTONIO — Hendricks & Partners has brokered the sale of the 200-unit Reserve in Alamo Heights, an apartment community located at 8446 Country Village St. in San Antonio. Mike Miller, Chris Ross and Will Caruth of Hendricks & Partners' San Antonio office represented the seller, Miami Beach, Fla.-based JPMCC 2006-LDP9 Alamo Heights LC, in the transaction. The buyer was an out-of-state investor.
THE WOODLANDS — Houston-based J. Beard Real Estate Co. has arranged the sale of a 1.21-acre pad site that will house a Japanese restaurant, located at the intersection of Technology Forest Boulevard and Research Forest Drive in The Woodlands. Tim Maczko of J. Beard represented the seller, Everson Developments, in the transaction. The buyer, a private partnership, currently owns and operates two Sakekawa Japanese Steak House & Sushi Bar restaurants.
IRVING — Atlanta-based The Brookdale Group has closed on its acquisition of the 1.4 million-square-foot Towers at Williams Square, an office complex comprised of four Class A buildings located at 5125 N. O'Connor Blvd. in Irving. The Brookdale Group purchased the property through Brookdale Investors Six, the firm's sixth real estate investment fund. The property consists of a 26-story office building, two 14-story office buildings and a five-story building, and it sits on a 16-acre property that fronts Lake Carolyn.
THE WOODLANDS — The J. Beard Real Estate Co. has brokered the sale of a 2.11-acre tract, located in the Village of Alden Bridge at the intersection of Ginger Jar and Kuykendahl Road in The Woodlands. Alden Land Development, a private partnership, purchased the land from The Woodlands Land Development. Two 10,000-square-foot office buildings will be constructed on the site by Everson Developments. The buildings are slated for a August 2012 completion and J. Beard is handling the marketing, sales and leasing of the office buildings.