THE WOODLANDS — Greystar Real Estate Partners has purchased a 12.4-acre site in the Village of Grogan's Mill in The Woodlands for construction of a three-story, 300-unit upscale garden apartment community. Construction is set to begin in spring 2011 with the opening scheduled for early 2012. The project's architect is Meeks + Partners Architects and Greystar Development & Construction, L.P., is serving as its general contractor.
GRAND PRAIRIE — Brett Heinen and John Bielamowicz of Henry S. Miller's Dallas-Fort Worth office's office and industrial division have arranged the sale of a 10,232-square-foot industrial facility at 1163 Ruggles St. in Grand Prairie. US Bank Association, a trustee for Lehman Brothers, obtained Henry S. Miller to assist with the sale of the property after a previous owner was foreclosed upon. Grand Prairie-based United Mirror and Glass purchased the property as the office and warehouse facility offers United Mirror remodeled office spaces, a tech area, a new roof and secured outside storage.
PLANO — New York-based AREA Property Partners, formerly known as Apollo Real Estate Advisors, has acquired the 730-unit Giovanna Apartment Homes, located at 1800 E. Spring Pkwy. in Plano, for $54.5 million. The multifamily property includes one-, two- and three-bedroom apartments featuring gourmet kitchens. Amenities include four swimming pools, a 24-hour fitness center, a dry sauna, a steam room, volleyball courts and an entertainment center. KC Spring Creek Apartments LP and KCD GP LLC formerly owned the Giovanna Apartment Homes.
HOUSTON — Behringer Harvard has achieved LEED Gold certification for three of its Houston office properties — One City Centre, One and Two Eldridge Place, and One Briar Lake Plaza. One City Centre is a 31-story office tower that was constructed in 1961 and renovated in 1999, and is comprised of approximately 600,000 square feet of space. One and Two Eldridge Place are comprised of more than 500,000 square feet of space between them and were built in the mid 1980s. And One Briar Lake Plaza is a 20-story office property built in 2000 that is comprised of more than 500,000 square feet of space. Sustainable practices executed to these three Houston office towers included significant reductions in water usage, comprehensive recycling, renewable energy purchases and filtration for improved air quality.
DALLAS — Peter Hartnett of Hendricks & Partners' Dallas office and Chuck LaBenz of its Phoenix office have facilitated the sale of The Ivy, a 334-unit multifamily property located in the Vickery Meadows neighborhood of north Dallas. J.P. Morgan Chase & Co./So Xhosa Holding Corp. sold the property to Nuran, Inc. Hendricks & Partners represented the seller.
KATY — Josh Lass-Sughrue, John Ferruzzo and Chris Kugle of NAI Houston have facilitated the sale of Westgreen Business Center, located at 1430 Vanderwilt Ln. in Katy. The 88,500-square-foot industrial property consists of eight warehouse buildings that are 98 percent leased. Westgreen Business Center, Ltd. sold the property to Wilsonville Holiday Partners.
HOUSTON — Black Stone Minerals, a fee mineral and royalty owner, has expanded by 13,119 square feet, renewing its headquarters lease for a total of 55,082 square feet at First City Tower in downtown Houston. Chip Colvill and Michael Anderson of Colvill Office Properties represented the landlord, FC Tower Property Partners, LP, an affiliate of Chicago-based JMB Realty. Trey Strake of Cushman & Wakefield represented Black Stone Minerals. First City Tower is a 49-story, 1.3 million-square-foot office building that occupies one city block bounded by Fannin, McKinney, San Jacinto and Lamar streets in Houston's central business district.
HUMBLE — Grubb & Ellis Healthcare REIT II has acquired Humble Surgical Hospital, a Class A, single-story, 30,000-square-foot surgical hospital located at 1475 FM 1960 E. Bypass in Humble. It features six operating rooms and two procedure rooms and is fully leased to Humble Surgical Hospital, LLC for 15 years under an absolute net lease. The property was acquired from Humble REP, LLC, an unaffiliated third party represented by Henry Hagendorf and Beth Young of Grubb & Ellis' Houston office.
VICTORIA — Jeff Patterson, Jon Boone and Kelly Witherspoon of ARA's Secondary Markets team in Austin have facilitated the sale of Silvermine Apartments, located at 6803 N. Navarro St. in Victoria. The 216-unit multifamily property was sold by a New York-based regional investment group to a California-based private investor. It features one- and two-bedroom floor plans averaging 746 square feet. ARA represented the seller.
DALLAS, SAN ANTONIO AND WYLIE — The Praedium Group, a New York-based national real estate investment firm, has acquired three multifamily properties in Texas totaling more than 700 units. The properties were purchased through The Praedium Fund VII, L.P., a $900 million real estate private equity fund. The properties include Elan at Bluffview, a 181-unit multifamily complex with 54,857-square-foot of retail space in Dallas; the 248-unit Dove Valley Apartments in San Antonio; and Broadstone Woodbridge, a 303-unit complex in Wylie.