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.
SUGAR LAND — Marcus & Millichap has arranged the $9.49 million sale of the 96,623-square-foot Woodbridge Shopping Center, located at 11543-11581 State Hwy. 6 S. in Sugar Land. James Bell of Marcus & Millichap's Houston office represented the seller, a partnership, and procured the buyer, a REIT, in the transaction. Woodbridge Shopping Center is anchored by Kroger on a long-term ground lease.
GRAND PRAIRIE — NorthMarq Capital has secured $16.3 million in first mortgage financing for the 300-unit Indigo Pointe, a multifamily community located in Grand Prairie. Jeff Frankel of NorthMarq's Chicago office arranged the 4-year loan through a correspondent life insurance company.
HOUSTON — Tarantino Properties has new leasing assignments for eight properties in Houston totaling 206,118 square feet, including four office buildings, three retail centers and a flex/industrial property. Two of the office buildings are medical office buildings, which consist of Doctor's Hospital-Tidwell Medical Plaza at 509 W. Tidwell Rd. and Baker Road Professional Building at 1010 Baker Rd. in Baytown. The other office properties are Chase Bank Lakeside at 10411 Westheimer Rd. and Westpark Office Building at 23804 FM 1093. The retail centers include Rich Hill Shopping Center at 3201-3235 Hillcroft Ave.; 3610 Hillcroft Ave.; and 5805-5821 Bellaire Blvd. The industrial property is located at 8600 Westpark.
AUSTIN — In a new joint venture, Prudential Real Estate Investors (PREI) and Lodging Capital Partners has acquired the 291-room Austin Four Seasons, a luxury hotel located at 98 San Jacinto Blvd. in downtown Austin. The hotel features amenities such as a lakeside spa, pool, lounge, fitness center and TRIO steakhouse.
THE WOODLANDS — Stream Data Centers has plans to construct a 72,500-square-foot data center on a 7.6-acre tract it recently acquired in The Woodlands. Stream is developing the property for LEED Gold certification and is naming it the Houston Private Data Center. Construction is slated to commence in February and be finished by December 2012.
ODESSA — Construction has commenced on the 75-unit Orchard Park of Odessa, an assisted living facility located at 8050 Dr. Emmitt Headlee St. in Odessa. The community is slated to open in the fall of 2012. The facility will be operated by North Carolina-based Meridian Senior Living.
