DALLAS — A California-based family trust has sold Calais Slopes & Eastridge Condominiums, a 61-unit multifamily property on Eastridge Drive in Dallas, to Building Portfolio Investments V, LLC, a Colorado limited liability corporation. Mark Porterfield of Henry S. Miller Brokerage's Dallas-Fort Worth Multifamily Investments Division represented the buyer and arranged financing through an eight-month assumption program with Berkadia Commercial Mortgage.
AUSTIN — Gila, a company offering outsourced collections, payment processing and call center services to government entities, financial and higher education institutions nationwide, has leased 54,865 square feet in McShane Development Co.'s Tuscany Technology Center Building 4 in Austin. The business park is situated on U.S. Highway 290, 3 miles from Interstate 35. Chad Barrett, Robert Shore and Bart Matheney of Aquila Commercial represented McShane, while John Bundy of Development 2000 represented Gila.
DALLAS — Upper E Apartments, a 466-unit, Class B multifamily community located along Gaston Avenue and Live Oak in east Dallas, has sold for an undisclosed price. An affiliate of the Archon Group sold the property, which was 92 percent occupied, to New York-based Rolling Cash Opportunity Fund. ARA Dallas represented the seller.
ODESSA — Parks Methodist Retirement Village, located on Faudree Road in Odessa, is expanding by developing a single-story assisted living building with 70 apartment units as well as a four-story, 80-unit independent living apartment building. Amenities will include a new industrial kitchen, a new dining hall, Wi-Fi, a salon/spa, an exercise center, a library and a computer room. Sears Methodist Retirement System and Prevarian Senior Living are completing the expansions.
AUSTIN — Arbor Pointe apartments, a garden-style multifamily community consisting of 344 units on 13 acres off Pleasant Valley Road in southeast Austin, has sold. The property was 91 percent occupied. Andrew Shih and Pat Jones of ARA Austin represented the seller, Walnut Creek, Calif.-based Bridge Partners. The Class B asset is situated approximately 3 miles from the University of Texas campus.
HOUSTON — The University of Houston is expanding its health facilities by adding a six-story, 167,000-square-foot Health and Biomedical Science Center. Groundbreaking took place last week and the project is expected to be completed in mid 2012. It will add a new ambulatory surgery center to the College of Optometry as well as space for outpatient cataract surgery and LASIK surgery.
HIGHLAND VILLAGE — The Shops at Highland Village, located at the intersection of FM 2499 and FM 407 in Highland Village, has leased more than 11,000 square feet of retail space plus an outparcel to six new merchants. Buffalo Wild Wings is currently under construction at the corner of FM 407 and Chinn Chapel Road, and Jack's Outfitters, Sprint, Brookstone, Calendar Club and Inspired Yoga Studio have all taken space in The Shops at Highland Village. Regency Centers leased the property.
SAN ANTONIO — Embassy Suites Hotels has opened its newest location, the Embassy Suites San Antonio Riverwalk — Downtown at 125 E. Houston St. on the Riverwalk in central San Antonio. The full-service, all-suite property features 11,589 square feet of meeting space. It is owned by Blanco Rio, Ltd., which is a collaboration by IBC BancShares, Sam Friedman, president and CEO of Dimension Development, and Jack Guenther, a San Antonio native. It is the third Embassy Suites in the San Antonio area and the 22nd in Texas.
BRYAN — The $26 million Texas A&M Health Science Center on its Bryan campus, developed by Skanska HealthRealty, is expected to be completed in time for fall classes in August 2011. It will combine the Texas Brain and Spine Institute, academics of the Texas A&M Health Science Center and the Blinn College allied health programs within a simulated hospital. The facility will serve 540 students and ensure Blinn College meets new requirements that Texas schools double their enrollment of nurses in the next 5 years. BOKA Powell is designing the 130,000-square-foot, six-tenant clinical building.
DALLAS — HSM Equity Partners, the real estate financial equity services entity of Henry S. Miller Co., has arranged non-recourse, fixed-rate, permanent financing for two shopping centers owned by entities of the Henry S. Miller family of companies. Pepper Square and Central Forest shopping centers in Dallas each carry 10-year terms with a 5.5 percent fixed rate. HSM secured financing through Wells Fargo's New York CMBS group. Pepper Square contains 277,609 square feet of retail space and Central Forest contains 94,879 square feet of retail space. Chance Johnson of HSM arranged the retail loans.
