FORT WORTH — Homewood Suites by Hilton has opened a new four-story, 90-suite hotel, located at 6350 Overton Ridge Blvd. in Fort Worth. Platinum Hotels owns the hotel and Lodgestar Investments manages it. The new hotel features a fitness center, 24-hour business center, recreational activities and approximately 1,300 square feet of meeting space.
SAN ANGELO — Love Funding has arranged $14.5 million in construction and permanent financing for The Boulevard, a market-rate apartment complex in San Angelo. Chad Ricks of Love Funding's Dallas office arranged the loan through HUD's 221(d)(4) loan insurance program. The apartment project is the latest development for NE Development and will feature a clubhouse, business center and fitness center upon completion.
DALLAS — NorthMarq Capital has secured $3.55 million in first mortgage financing for the 55,411-square-foot Maplewood Retail, located at 2515 Inwood Road in Dallas. Bart Dickinson of NorthMarq's Dallas office arranged the 25-year, fully amortized loan through StanCorp Mortgage Investors.
PLANO — Plano Data has expanded its lease by 16,386 square feet for a total 116,376 square feet of office space at Plano Business Park, a 283,559-square-foot office complex located at the intersection of Shiloh Road and Plano Parkway in Plano. Other tenants in the complex include ND SatCom and Enterprise Mobile. George Tanghongs and Brett Lewis of Lee & Associates' Dallas office represented the tenant in the lease transaction. Alan Clark and Paul Tichacek of JSC Realty Services' Dallas office represented the landlord, KBS REIT II.
ROWLETT — American Realty Capital — Retail Centers of America has entered into an agreement to purchase the 105,861-square-foot Liberty Crossing Shopping Center, located in Rowlett, for $22.2 million, excluding closing costs. The property is 95 percent leased to 16 tenants, which include Ross Dress for Less, PetSmart and Dollar Tree. In addition, the buyer recently broke escrow and issued shares of common stock to American Realty Capital IV, its sponsor, which purchased $2 million of the company's stock.
CARROLLTON — Dallas-based Stroud Properties has plans to develop a neighborhood of seven 8,500-square-foot assisted living residences, located on a 7.5-acre site near the intersection of East Hebron Parkway and Josey Lane in Carrollton. The $12 million project will serve a total of 64 assisted living residents and 48 Alzheimer's and dementia care residents. Each residence in the community will feature 16 bedrooms with private bathrooms, a salon and an enclosed backyard with walking paths and fountains.
AUSTIN — Houston-based Valencia Group has broken ground on the 123-room Lone Star Court, an Americana roadside hotel located at the Domain in Austin. The Domain is a mixed-use development that will span approximately 8 million square feet upon completion. The hotel will mix nostalgia and high-tech concepts with amenities such as an outdoor fire pit, a dipping pool reminiscent of swimming holes in Texas' Hill Country, a 1,800-square-foot open air lawn, a 1,600-square-foot outdoor pavilion, 2,000 square feet of interior meeting space, a restaurant and a bar. The new hotel is a throwback to the heyday of the roadside motor court experience. Jim Suggs of Dallas-based RTKL Associates is the lead architect, Lauren Rottet of Houston-based Rottet Studio is the lead designer and Christine Ten Eyck of Austin-based Ten Eyck Landscape Architects is the landscape architect. The hotel is slated for an early 2013 opening.
PLANO — H Mart has leased 72,267 square feet of anchor space at Parker Towne Centre, a community shopping center located at 3220 K Ave. in Plano. The shopping center will be rebranded as the Super H Mart Towne Centre. Sungju Choi of Carrollton-based Dallas Realty represented the tenant in the lease transaction. The landlord, Dallas/Fort Worth-based Retail Plazas, was self-represented by Cory McCord and Earl Harris of The Weitzman Group's Dallas office.
GARLAND — Addison-based Razzoo's has opened a new 6,500-square-foot Razzoo's Cajun Cafe at the Firewheel Town Center, an open-air shopping center located on the northeast corner of the President George Bush Turnpike and Highway 78 North in Garland that features anchors Macy's, Dillard's and an AMC Movie Theatre. The restaurant is the company's 14th location in Texas. Dallas-based Zero 3 designed the restaurant while Lewisville-based Strong Group served as the contractor. Brian Glaser of The Weitzman Group's Dallas/Fort Worth office represented the tenant in the lease transaction.
DALLAS — Marcus & Millichap has arranged the sale of the 506-unit Trinity Palms, a 411,884-square-foot apartment complex located at 9690 Forest Lane in Dallas. The complex consists of 64 buildings and has amenities that include a fitness center, swimming pools, a clubhouse and an after-school program area. Al Silva of Marcus & Millichap's Fort Worth office represented the seller, an El Paso-based partnership, and procured the buyer, a private investor based in Texas.
