HOUSTON — Deutsche Bank Berkshire Mortgage (DBBM) has provided a $31.4 million Fannie Mae loan for the acquisition of Domain at Kirby, a 293-unit Class A multifamily community in Houston. Located at 1333 Old Spanish Tr., Domain at Kirby was built in 2009 and achieved more than 90 percent occupancy within 18 months. Amenities include 10-foot ceilings, stainless appliances, tiled backsplash, granite countertops, walk-in closets and a gated community entry. Principal Real Estate Investors purchased the property through a presale obligation with the developer.
Texas
SAN ANTONIO — The NRP Group LLC, in partnership with Balfour Beatty Capital and Alamo Colleges, will construct a $30 million mixed-use development featuring 215 student housing units, a 1,000-car parking garage and 27,000 square feet of commercial lease space in downtown San Antonio. Student housing units will be available in one-, two- and four-bedroom options. The NRP Group and Balfour Beatty Capital coordinated with the Tobin Hill Neighborhood Association, Campus Advantage Inc., and area businesses to tailor the development.
SAN MARCOS — Heery International, as a design consultant partner with the architecture firm O'Connell Robertson, has been chosen to design an expansion of Texas State University's football stadium. The 97,000-square-foot expansion of Bobcat Stadium's north end zone will add 13,400 seats, new visitor and official locker rooms, and a kitchen and storage area. The expanded stadium is scheduled to open for the 2012 football season.
FRISCO — Wells Core Office Income REIT has acquired Duke Bridges I and II, two Class A office buildings in Frisco that are fully leased to T-Mobile West Corp. and EFA Processing. Built in 2006, the buildings contain 284,198 square feet and are located on Warren Parkway. Norcross, Ga.-based Wells was represented internally by Keith Willby.
CINCO RANCH — Grandbridge Real Estate Capital's Houston office has closed a $5.3 million first mortgage loan for a 22,400-square-foot retail center in Cinco Ranch, near Katy. The property is 100 percent leased to tenants such as First Community Bank, FedEx Kinko's, Mooyah Burgers & Fries and Potbelly Sandwich. The loan was secured by Arcadia and funded through Grandbridge's CMBS relationship with Morgan Stanley. The non-recourse, fixed-rate loan features a 10-year term and a 25-year amortization and a 75 percent loan-to-value rate. The retail property is owned by HRC Partners Ranch, Ltd., and Excel Commercial Real Estate and New Regional Planning partnership.
HOUSTON — Bill Rudolf and Gray Gilbert of CB Richard Ellis (CBRE) represented Packwell, Inc., a provider of plastics bagging and logistics services, in its renewal of a 136,928-square-foot warehouse and distribution space at 8786 Wallisville in northwest Houston. John Kruse and Edward Bane of Holt Lunsford Commercial represented the landlord, Teacher's Insurance. In addition, Rudolf and Gilbert represented Sercel, Inc., a provider of seismic acquisitions systems based on cable, radio telementary and vibrators, in its renewal of a 99,000-square-foot warehouse and distribution space at 10570 Bissonnet in southwest Houston. Rives Nolan of InSite Commercial Real Estate represented the landlord, East Group.
SAN ANTONIO — Walker & Dunlop arranged a $3.25 million loan for Villa de Oro Apartments in San Antonio. Villa de Oro Apartments is a 150-unit, garden-style apartment community constructed in 1987. The property was 87 percent leased at closing. Mick Rosley of Stillwater Capital, LLC was the borrower. The lender was a regional bank.
LIVINGSTON — Cadence McShane Construction Co. has completed the 50,793-square-foot build-to-suit office headquarters for Sam Houston Electric Cooperative, Inc. The new single-story office building is located at 1157 E. Church St. in Livingston. Sam Houston Electric Cooperative provides electricity to areas of East Texas and ranks as one of the largest of the 65 electric cooperatives in Texas, maintaining 6,000 miles of power lines and serving more than 51,000 members.
FRISCO — AmerisourceBergen Specialty Group (ABSG), a provider of specialty pharmaceutical services, has signed a new full-floor lease for an additional 30,222 square feet at 3200 Internet Blvd. in Frisco, expanding its group headquarters at Hall Office Park. ABSG now fully occupies 3200 Internet Blvd. and 3101 Gaylord Pkwy., two of the 15 buildings within Hall Office Park. ABSG signed its first lease at the office park for 213,672 square feet in 2007, taking all of 3101 Gaylord Pkwy. and two floors at 3200 Internet Blvd. In 2008, the company added 18,308 square feet at 3200 Internet Blvd. Kim Butler and Tammy Lomonaco of Hall Financial Group handled negotiations on behalf of Hall Financial Group, the owner and landlord. Meanwhile, Randy Garrett of Transwestern's Dallas office and Dan Knudson of Newport Beach, Calif.-based DAUM Commercial Real Estate Services represented ABSG.
DALLAS — 1120 Empire Central Place, a three-story, 23,000-square-foot office building in the Empire Central submarket of Dallas, has sold to a private investment group that plans to re-tenant the asset. Kerry Assa and Tony Albanese of Dallas-based Bright Realty negotiated the sale on behalf of SB&T Assets Corp.