DALLAS — The former 12,934-square-foot Smith & Wollesnky building, located at Dallas North Tollway and Frankford Road in Dallas, has been purchased and will be a new site for Pappasito's Cantina. David Zoller of The Weitzman Group's Dallas office represented the undisclosed seller in the transaction. Sam Beys of Preston Commercial Group represented the buyer.
POTTSBORO — Dallas-based Net Realty Advisors has arranged the sale of the 8,000-square-foot Family Dollar, located at Franklin Street and Highway 120 in Pottsboro. Family Dollar has a 10-year lease with four options to extend. Gavin Kam and Brad Kam of Net Realty Advisors represented the buyer, a West Coast-based all-cash investor, in the transaction.
CARROLLTON — LMI Capital has secured $9.36 million in acquisition financing for the 256-unit Parkside Village Apartments, located at 3022 N. Josey Ln. in Carrollton. Chris Pollard of LMI Capital's Dallas office arranged the loan with a 30-year amortization schedule through an undisclosed life insurance company.
CARROLLTON — Grubb & Ellis has brokered the lease extension of 59,856 square feet of office space, located at 3000 Kellway Dr. in Carrollton. Heather Densmore Shover and Trae Anderson of Grubb & Ellis' Dallas office represented the landlord, 3000 Kellway Drive Holdings LP, in the lease transaction. Securus Technologies was the tenant.
HOUSTON — Houston-based The Morgan Group has arranged $146 million for the refinancing of five multifamily properties in Texas, Florida and North Carolina, including 2222 Smith Street Apartments and 33 Thirty Three Apartments in Houston. The Houston properties were financed through BBVA Compass Bank and Northwestern Mutual Life.
DENTON AND LUBBOCK — HFF has secured $52 million in acquisition financing for the 125-unit The Retreat at Denton near the University of North Texas, located at 500 Inman St. in Denton, and the 218-unit The Retreat at Lubbock near Texas Tech University, located at 3824 Erskine St. in Lubbock. Dave Keller and Ken Martin of HFF's Indianapolis office arranged the 5-year loans through the Freddie Mac CME Program on behalf of the borrowers, Chicago-based The Scion Group and Arch Street Capital Advisors, which received $18 million for the Denton property and $34 million for the Lubbock property. The Scion Group has rebranded the properties as The Republic at Denton and the Republic at Lubbock.
TULSA, OKLA. — Dallas-based Metropolitan Capital Advisors (MCA) has arranged $35 million in mortgage financing for five apartment complexes in the Tulsa area, including Hunters Creek Apartments, Arbors of Southern Hills, Sand Dollar on the River, Pheasant Run and Silver Springs. The 1,250-unit portfolio is fully renovated and was 90 percent occupied at the time of the loan closing. Todd McNeill of MCA arranged the 10-year loan through the Fannie Mae DUS program.
SAN ANTONIO — NorthMarq Capital has secured $5.5 million in acquisition/senior financing for the 124-unit Hidden Oak Apartments, located at 13129 Military Hwy. NW in San Antonio. Luke Donahue of NorthMarq's Phoenix office arranged the 10-year loan with a 30-year amortization schedule through AmeriSphere Multifamily Finance, a Fannie Mae DUS Lender, on behalf of the borrower, Jevan Capital.
SPRING — Houston-based Hunington Properties has brokered the sale of the 12,600-square-foot Meadowedge Shopping Center, located at Interstate 45 and Cypresswood Dr. in Spring. The property is fully leased and shadow-anchored by Lowes Home Improvement. Todd Carlson of Hunington Properties represented the seller, a California-based private investor, in the transaction. Carlson will retain management and leasing responsibilities for the property.
DALLAS AND FORT WORTH — 7-Eleven has purchased the retail interests of 51 ExxonMobil locations in the greater Dallas/Fort Worth area. The majority of the stores will be rebranded as 7-Eleven stores but maintain the Exxon gasoline brand. The stores' rebranding is slated to be completed by the end of 2012.