El Paso — Pebble Hills, a 105-unit multifamily property built in 1978, has sold in El Paso for an undisclosed price. Located at 10865 Edgemere Blvd., the property features 32 one-bedroom and 73 two-bedroom units. San Antonio-based American Opportunity for Housing-PH Apartments, represented by Mike Miller and Winston Black of Hendricks & Partners, sold the property to El Paso-based Pomajest, which is planning substantial upgrades.
BELTON — A 2,590-square-foot Pizza Hut has sold in Belton, 50 miles north of Austin. Brad Bailey and Chase Conway of Marcus & Millichap's Austin office represented the seller, a private investor, while J.J. Taughinbaugh of Marcus & Millichap's Palo Alto, Calif., office represented the buyer, also a private investor. Pizza Hut is located at Neil Street and Interstate 35.
BAYTOWN — Arch-Con Construction has completed construction of a new Marriott SpringHill Suites, located at 5169 E. Freeway in Baytown, for Quad Hotels. The 75,000-square-foot hotel offers 101 guest rooms, a fitness room, an indoor pool and a sports bar. It also features 4,500 square feet of conference space.
MESQUITE —An 88,000-square-foot freestanding retail building in Mesquite, which is currently leased to Hobby Lobby and Mardel, has been sold to a New York-based investment group for an undisclosed price. A Dallas-based limited partnership sold the property, which fronts Galloway Road in Mesquite and sits just north of Highway 80. Gavin Kam of Net Realty Advisors and Brad Kam of TKG Property negotiated the transaction.
SAN ANTONIO — Colonnade Centre, a multi-tenant Class A office building in San Antonio has earned a LEED-EB Gold certification from the U.S. Green Building Council. The office property is managed by USAA Real Estate Co. and includes tenants such as MasterCard International and First Fidelity.
DALLAS — Behringer Harvard has acquired Allegro, a 272-unit luxury multifamily community in Addison Circle, a 70-acre mixed-use development in Dallas. Behringer Harvard also acquired a 1.2-acre parcel of land adjacent to Allegro. The luxury multifamily community was completed in 2008 on a 4.6-acre site at 15750 Spectrum Dr. This acquisition brings the portfolio of Behringer Harvard Multifamily REIT I to 32 multifamily communities in 12 states, totaling 9,004 apartment homes.
THE WOODLANDS — Houston-based Baker Katz has acquired the former Hollywood Video building at Grogan's Mill and Sawdust in The Woodlands. Baker Katz plans to renovate and expand the 7,500-square-foot building, and subdivide it and re-lease the spaces to individual tenants. Cathie Mann of Vista represented the seller, while Baker Katz was represented in house.
BEAUMONT — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged acquisition financing for West End Lodge, a 360-unit Class A multifamily community in Beaumont. Cortney Cole of HFF worked on behalf of Venterra Realty to secure a 10-year fixed-rate loan with Freddie Mac. West End Lodge is located at 4215 N. Major Dr. and was completed in 2007. It is 93 percent occupied and has an average unit size of 805 square feet.
BORDEN COUNTY — Houston-based Eagle Ford Oil & Gas Corp. has signed a letter of intent for the acquisition of a 25 percent non-operated working interest in a 5,990-acre lease position in Borden County with plans to drill two wells to test the productivity of the producing zones in the first quarter of 2011. The property has two oil producing formations: the Mississippian Fractured Carbonates and the Wolfberry Formation. The acreage position will support 37 additional locations.
BEAUMONT, SAN ANTONIO AND WACO — Three office buildings, each 100 percent leased to the United States government for use as social security administration facilities, have sold in Texas. Located in Beaumont, San Antonio and Waco, the closed transactions totaled approximately $15 million after an undisclosed buyer assigned the contracts to a real estate investment trust familiar with government-leased property. The Silver Group of Northern California brokered the deals.