COPPELL — JP Morgan Chase Bank has leased Freeport IV, a 125,103-square-foot office and call center located at 1111 Northpoint Dr. in Coppell, from Duke Realty Corp. It will use the building for its mortgage operations, consolidating several other call center operations into the facility this August. Freeport IV is one of 13 buildings in Duke Realty's Freeport North development just off Interstate 635 and Texas State Highway 121 in Coppell. Paul Whitman and Russell Cosby of Jones Lang LaSalle represented JP Morgan Chase Bank in the transaction.
Texas
HUMBLE — Bethesda, Md.-based Crossbeam Capital has acquired Woodland Hills Apartments, a 282-unit, 18-month-old garden-style rental community in Humble. The 11.2-acre community was purchased for an undisclosed amount from Houston-based Verde Apartment Communities, which developed the property. Woodland Hills, located at 3918 Atascocita Rd., is the eighth apartment community acquisition that Crossbeam Capital has completed with its operating partner, Houston-based Concierge Management Services.
DALLAS — Transwestern's Dallas multifamily group has brokered the sale of Timmaron Ridge Apartments in Dallas, located at 9850 Whitehurst Dr. Timmaron Ridge is a 196-unit community that was developed in 1980. Mark Freeman and Taylor Snoddy of Transwestern represented the seller, an institutional special servicer based in Florida, as Timmaron Ridge was sold out of receivership. Knightvest Capital purchased the multifamily property with plans to renovate it.
HUMBLE — Stan Johnson Co. has completed the sale of a 1,850-square-foot, free-standing Starbucks at 3805 Atascocita Rd. in Humble to an individual investor. Hunter Jaggard of Stan Johnson Co. represented the seller, a New York-based investor, while Mansur Hussein of Hutaib USA represented the buyer. The Starbucks property is situated on the northeast corner of Atascocita Road and Will Clayton Parkway with nearby tenants Chase Bank, AutoZone, Walgreens and Kroger.
OKLAHOMA CITY, OKLA. — Dallas-based Rosebriar Properties has sold the 216-unit Quail Landing Apartments, located in Oklahoma City, for $15.7 million. The development was completed in 2000 as part of a larger land investment that made up more than 4 million-square-feet for commercial property surrounding Quail Springs Mall. Rosebriar was represented by Bills Hanks of Rosebriar Holdings Corp.
LUBBOCK — Holliday Fenoglio Fowler (HFF) has arranged $25.87 million in financing for The Suites at Overton Park, a 298-unit multi-housing community across from Texas Tech's campus in Lubbock. HFF worked exclusively on behalf of the borrower, McDougal Cos., to secure the 5-year fixed-rate loan with Freddie Mac. The Suites at Overton Park is situated on 5.8 acres at 2300 Glenna Goodacre Blvd. Completed in 2008, the four-story property features a parking garage, a resort-style swimming pool, a walking track, a media room, a fitness center and laundry facilities. It is 99 percent leased. The HFF team representing McDougal Cos. was led by Mona Carlton.
LUBBOCK — Walker & Dunlop has provided a $4.1 million permanent refinance loan for Waterside Village, a 185-unit garden-style apartment community built in 1978 in Lubbock. The loan was structured with a 10-year fixed-rate term and a 30-year amortization. Located at 2310 70th St., the community was 91 percent leased at closing.
HOUSTON — Piedmont Office Realty Trust, a public REIT specializing in Class A office properties, has selected Colvill Office Properties to lease its recently purchased 1200 Enclave property. The six-story, 149,683-square-foot Class A office building is located in Houston's Energy corridor along Interstate 10 West. Part of Enclave Park, 1200 Enclave has an attached four-level parking garage and 26,300-square-foot floor plates. Chip Colvill, Ronnie Martin and Michael Anderson of Colvill Office Properties will handle leasing for 1200 Enclave. The Enclave office park is home to Dow Chemical, Sysco, Shaw Engineering and Gulf States Toyota.
BALCH SPRINGS, FARMERS BRANCH AND LUBBOCK — Chris Pollard of LMI Capital has arranged $8.8 million for the acquisition of three multifamily properties through one of its Fannie Mae lending sources. The three properties include the 147-unit The Oaks in Balch Springs, the 142-unit Villa Marquis in Farmers Branch, and the 118-unit Chaparral in Lubbock.
HILLSBORO — A 65-unit La Quinta Inn & Suites, located at 1513 Old Brandon Rd. in Hillsboro, has changed hands. Allan Miller of Marcus & Millichap's Austin office represented the seller, a limited liability company, while the unlisted buyer was secured by Chris Gomes of Marcus & Millichap's Dallas office. The La Quinta Inn & Suites opened in 2010 with modern limited service hotel amenities.