ARLINGTON, LEWISVILLE AND FORT WORTH — Bethesda, Md.-based Beech Street Capital has provided $13.8 million in Fannie Mae loans to refinance three apartment complexes totaling 650 units in Arlington, Lewisville and Fort Worth. Larry Sneathern of Beech Street's Dallas office arranged the financing for each complex with 10-year terms.
HOUSTON — New York City-based Angelic Real Estate has secured a $4.57 million loan for the acquisition and tenant improvement costs for 221,000 square feet of office space in High Ridge Business Park, located at 5750 N. Sam Houston Pkwy. E. in Houston. The property has been REO for several months and was 42 percent leased at the time of purchase. Angelic arranged the fixed-rate financing with a 3-year term on behalf of the borrower, a Houston-based private equity firm.
IRVING — Dallas-based Bradford Commercial Real Estate Services has brokered the sale of a 8,348-square-foot retail property, formerly a Pancho's Mexican Buffet restaurant, located at 8312 Camp Bowie W. in Irving, to a Houston-based investor. Brian Scott and Karen Simon of Bradford Commercial represented Rockbay Properties II Ltd., parent of the Pancho's location, in the transaction.
SHAWNEE, OKLA. AND LAKE JACKSON — Northbrook, Ill.-based StreetMac Asset Managers has acquired the Brazos Mall in Lake Jackson and the Shawnee Mall in Shawnee, Okla., hrough a joint venture with Stamford, Conn.-based Five Mile Capital Partners. Brazos Mall spans 682,831 square feet and houses Dillard's, JC Penney, Sears, Starplex Cinema, Ross, Palais Royal and Powerhouse Gym. Shawnee Mall spans 453,861 square feet and includes Dillard's, JC Penney, Kohl's and Sears. The seller was Lightstone Properties. Chicago-based Urban Retail Properties will serve as property manager and leasing agent for both malls.
THE WOODLANDS — Bayway Cos. has purchased a 5-acre parcel in The Woodlands for the construction of a 25,000-square-foot Volkswagen dealership. The dealership is slated to open in mid-2012. Todd Edmonds and Cody Christoph of Colliers International represented the seller, The Woodlands Development Co.
DUNCANVILLE — RaceTrac has purchased 80,000 square feet of land in Duncanville, located at 515 Cockrell Hill. Dan Garrett of John T. Evans Co. brokered the transaction, along with Bill Booker of Sundance Square.
GARLAND — Evercare Pharmacy, an affiliate of Health Mart, has opened a 1,050-square-foot location at Village Plaza, located at the corner of West Walnut Street and North Jupiter Road in Garland. Brixmor Property Group owns Village Plaza.
WEBSTER — Scottsdale, Ariz.-based STORE Capital has purchased a 64,917-square-foot retail building, located at 1125 Magnolia Ave. in Webster, in a sale-lease back transaction with Carrollton-based Main Event Entertainment. Hunter Jaggard of Stan Johnson Co.'s Houston office represented the seller, and Derek Layne of Stan Johnson Co.'s Los Angeles office represented the buyer.
PORT ARTHUR — An east Texas-based individual investor has purchased a 33,134-square-foot property 100 percent leased to Family Dollar Stores, located at 230 Gilham Circle in Port Arthur, from Weingarten Realty Investors. Hunter Jaggard of Stan Johnson Co.'s Houston office represented the seller in the transaction.
LEWISVILLE — Caliber Collision Centers is slated to move its corporate headquarters from California to 401 E. Corporate Dr. in Lewisville in mid-November. The company leased 16,397 square feet of office space from the landlord, GL Corporate Pointe. Andrew Taguwa of Jones Lang LaSalle's Dallas office represented the tenant, and Buddy Tompkins of CASE Commercial Real Estate Partners' Dallas office represented the landlord.