DALLAS — ARA has brokered the sale of the 396-unit Alexan Southwestern Apartments, located in Dallas' Medical District. Brian O'Boyle of ARA represented the seller, Trammell Crow Residential, in the transaction. The Class A Alexan Southwestern was built in 2009 and is currently 96.5 percent occupied.
AUSTIN — Muskin Commercial has closed the sale of the 102-unit Vista Lago Apartments, located at 2215 Town Lake Circle near Lady Bird Lake in Austin. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, Carlsbad, Calif.-based Lanshire Housing Partners, in the transaction. Austin Vista Lago, LP. was the buyer.
FORT WORTH — Bradford Commercial Real Estate Services has arranged the sale of a 53,652-square-foot, mixed-use campus on 5.03 acres, located at 1520 Everman Parkway in Fort Worth. Karen Simon, Brian Scott and Kevin Santaularia of Bradford Commercial represented the seller, Avcor Health Care Products, in the transaction. Jordan Foster of Peyco Southwest Realty represented the buyer, Everman Independent School District.
PASADENA — Vantex Commercial Property Group has brokered a lease renewal for 300,000 square feet of industrial space at Bayport North Distribution Center II, located at 4331 Underwood in Pasadena. Walter Menuet of Vantex represented the landlord, Bayport II Mountain West Houston LLC, in the lease renewal transaction. Randy Wolcott of ProVenture Commercial Real Estate represented the tenant, Ozburn-Hessey Logistics.
HOUSTON — Houston-based Baker Katz has purchased a 4,120-square-foot, free-standing property occupied by Southern Dental, located at 310 W. 19th St. in The Heights neighborhood of Houston. The buyer was self-represented while Stewart Waller of Retail Leasing Services represented the seller in the transaction.
HOUSTON — NorthMarq Capital has arranged first mortgage refinancing for the 260,000-square-foot West Belt Business Park, located at 10611-10651 Harwin Drive in Houston. John Burke and Chad Owens of NorthMarq arranged the seven-year loan with a 30-year amortization schedule through a life insurance company on behalf of the borrower, InSite West Belt LP.
MCALLEN — Dallas-based Metropolitan Capital Advisors (MCA) has secured a $3 million loan for the 80-unit Redbud Apartments, located in the northeast section of McAllen. The property is currently 95 percent leased and has recently underwent $1 million in renovations. Hook Harmeling of MCA arranged the 10-year loan through the Fannie Mae DUS loan program.
SUGAR LAND — The Sugar Land Development Corp. and Sugar Land City Council have approved a letter of intent with ACE Sugar Land to develop a 6,500-seat concert and performing arts facility, located on a 21-acre site near the U.S. Highway 59 and University Boulevard intersection. The letter of intent establishes funding to begin programming and schematic design. No timeline has been set for completion.
DALLAS — Marcus & Millichap has arranged the sales of The Colorado Apartments and Riverfall Square in Dallas. The 59-unit Colorado property is located at 2610 W. Colorado Blvd., and the 144-unit Riverfall Square is located at 7879 Riverfall Drive. John Barker of Marcus & Millichap's Dallas office represented seller, a limited liability company, and the buyer, an individual trust, in the Colorado Apartments transaction. Will Jarnagin and Michael Ware of Marcus & Millichap's Dallas office represented the seller, a New York-based private investment group, and procured the buyer, a local investor, in the Riverfall Square transaction.
SUNSET VALLEY — NorthMarq Capital has secured $10.5 million in first mortgage financing for an 86,584-square-foot Kohl's store, located in Sunset Valley. John Kerslake of NorthMarq's San Francisco office, along with Bryan Leonard of the firm's San Antonio office, arranged the 10-year loan with a 15-year amortization schedule through a life insurance company.
