HOUSTON — Willbros United States Holdings, Inc., an oil and gas equipment and services provider, has signed an 87,212-square-foot office lease at Five Post Oak Park in Houston's Galleria submarket. Willbros extended its original lease for 10 years, expanding its size by 44,178 square feet. Tim Relyea, Joe Peddie and David Guion of Cushman & Wakefield of Texas represented Willbros, while Clint Bawcom and Brian McMackin of Cassidy Turley represented the landlord, Shorenstein Properties LLC. Five Post Oak Park is a 567,319-square-foot Class A office building located at 4400 Post Oak Pkwy.
FORT WORTH, TEXAS — Spire Realty Group has procured a $44 million loan for the acquisition of Two City Place, a 315,225-square-foot office tower located at 100 Throckmorton St. in Fort Worth. The property was built in 1976 and renovated in 2008. It was 82 percent leased at the time of closing to a tenant roster that includes Range Resources and First American Payment Systems. The loan carries a 5.72 percent fixed rate and a 5-year term. The lender was JP Morgan Chase Bank. The Holliday Fenoglio Fowler team of Wally Reid, Travis Anderson and Corby Chaffin represented Spire Realty.
OKLAHOMA CITY — A joint venture between Dallas-based Atlas Advisors Commercial Real Estate and Barton Creek Capital has secured a $15.71 million loan for its purchase of a 561,551-square-foot Oklahoma City warehouse portfolio. The portfolio is situated in the city's Southwest Industrial submarket and was 85 percent leased at the time of closing. The loan is variable rate, non recourse and was provided by Chicago-based NXT Capital. Jason Pumpelly of Johnson Capital's Dallas office arranged the loan.
SPRING, TEXAS — NorthMarq Capital has arranged $12.84 million in Freddie Mac financing for Stoneleigh on Spring Cypress, a 216-unit multifamily community located at 7215 Spring Cypress Road in Spring. The loan carries a 7-year term and a 30-year amortization schedule. William Jackson of NorthMarq's Dallas office arranged the loan on behalf of the undisclosed borrower.
HOUSTON — The Westin Memorial City is officially opening this week on March 24. Bounded by Interstate 10 and Gessner Road in Houston, the 570,000-square-foot hotel features 267 guest rooms including 25 suites; more than 30,000 square feet of meeting and banquet space; and an 18th floor infinity pool with panoramic views of Houston's skyline. The hotel also features the Trattoria II Mulino restaurant from the creators of II Mulino New York in New York's West Village. The Westin Houston Memorial City is the Westin brand's third property in Houston and is part of the Memorial City Complex featuring three Starwood brands, which include the Four Points Houston Memorial City and the Sheraton Houston West.
DESOTO — DeSoto Economic Development Corp. has acquired 18.74 acres located at the southwest corner of East Danieldale Road and Kestrel Avenue in DeSoto. The land will be used for development of a new heliport, suitable only for use by helicopters. According the city's plans, the heliport will service privately and commercial-owned helicopters. Initial construction and opening date are to be determined. Daniel Harris of Henry S. Miller Brokerage represented DeSoto Economic Corp. in the transaction. Representing the land's previous owner, Mahan Investment, was Jim Struble of NAI Robert Lynn.
HOUSTON — A two-story, 31,926-square-foot office building located at 1075 Kingwood Dr. in Houston has sold for an undisclosed amount. Brookfield Real Estate Opportunity Fund, a division of Brookfield Asset Management, sold the property Eminent Realty Development Group. The office property sits on a 3.86-acre site at the entrance to the Kingwood master-planned community close to Highway 59 and the George Bush Intercontinental Airport in northeast Houston. Renovated in 2008, the property is 91 percent leased to tenants including JPMorgan Chase, McDowell Owens and Compass Anesthesia. Dan Miller and Trent Agnew of Holliday Fenoglio Fowler (HFF) represented Brookfield in the transaction.
DALLAS AND SAN ANTONIO — Dallas-based Peloton Commercial Real Estate and San Antonio-based Cambridge Realty Group (CRG) have merged under Peloton Commercial Real Estate. During the next 60 days, CRG will transition to the Peloton brand, becoming Peloton Commercial Real Estate San Antonio. The merger will integrate property management services and allow Peloton, which provides services for more than 24 million square feet of commercial real estate in Texas, broader trend analysis.
HOUSTON — Houston-based Transwestern, a privately held commercial real estate firm active in the real estate service, development and investment management businesses, has been awarded a 2011 Energy Star Sustained Excellence Award for its commitment to operate buildings efficiently. It is the sixth consecutive such award for Transwestern, the first third-party commercial real estate services provider to be both an Energy Star Partner of the Year and a Sustained Excellence recipient.
FRISCO — Holliday Fenoglio Fowler (HFF) has arranged $22.3 million in financing for La Valencia at Starwood, a 270-unit multifamily community located at 6805 Lebanon Rd. along Dallas North Tollway within the Starwood master-planned development in Frisco. Completed in 2009, the property was awarded the Green Multifamily Project of the Year from the National Association of Home Builders. La Valencia at Starwood is 95 percent leased and has one-, two- and three-bedroom units ranging from 744 to 1,450 square feet. Community amenities include a business center, a resort-style pool, a fitness center and a gated entry. Kevin MacKenzie led the HFF team representing the borrower.