PLANO, TEXAS — Brandon Chavoya of Holliday Fenoglio Fowler has secured a $5.8 million loan for the 131,882-square-foot Jupiter Tech Center and Summit Service Center buildings. The flex properties are located at 1000 Jupiter Road and 1825-1865 Summit Ave. in Plano. ViewPoint Bank financed the 5-year, fixed-rate loan.
Texas
FORT WORTH AND ARLINGTON, TEXAS — Arbor Commercial Funding has arranged three loans totaling more than $9 million for apartment complexes in Fort Worth and Arlington. A $3.41 million loan was secured for the 185-unit La Joya Apartments in Arlington; $3.36 million was obtained for the 216-unit Linda Vista Apartments in Fort Worth; and $3.19 million was secured for the 208-unit Bella Apartments in Fort Worth. The loans carry 5.69 percent interest rates on 10-year terms with 30-year amortization schedules. Arbor's Anthony Tarter arranged all the deals.
IRVING, TEXAS — KBS Real Estate Investment Trust II has purchased the 400,123-square-foot Dallas Cowboys Distribution Facility from a private seller for an undisclosed price. Located at 2500 Regent Blvd. in Irving, the 1-year-old property is fully occupied by Dallas Cowboys merchandising firms. CB Richard Ellis' Jack Fraker and Josh McArtor represented the seller, and KBS was represented internally.
SAN ANTONIO, TEXAS — The Department of Defense has leased 20,616 square feet of office spacefrom Talcott Realty Investors in theBank of America Plaza. The property is located at 300 Convent St. in San Antonio.The building is currently 90 percent occupied. CB Richard Ellis' Seth Prescott represented the Department of Defense. Martin Down of Transwestern represented the landlord.
HOUSTON — KBS Realty Advisors has sold the 139,834-square-foot Atrium at Park Ten office building to Beacon Investment for an undisclosed amount. The property is located on 6 acres at 16340 Park Ten Place in Houston. In the past 8 years, the owner has invested $2 million in capital improvements into the property; the Atrium is currently 88 percent leased. Holliday Fenoglio Fowler's Susan Hill arranged fixed-rate financing for Beacon. Dan Miller and Martin Hogan of HFF brokered the sale.
LEAGUE CITY, TEXAS — Sunstone Realty Advisors has purchased the 352-unit Broadstone Walker Commons apartment complex from a bank participation led by agent bank Bank of America for an undisclosed amount. The property is located at 1751 W. Walker St. in League City on 20 acres of land and is 91 percent leased. The purchase was financed by a Freddie Mac loan, which was secured by John Brownlee and Matt Kafka of Holliday Fenoglio Fowler. HFF's Craig LaFollette, Todd Stewart, Todd Marix, Tre Banks and Chris Curry brokered the sale.
HOUSTON — Chatham Lodging Trust has purchased the 120-room Hampton Inn & Suites Houston – Medical Center from an undisclosed seller for $16.5 million. The purchase is part of a planned four-property portfolio, which will eventually be acquired for $61 million. The other three hotels will be purchased once due diligence is completed.
DENTON AND LEWISVILLE, TEXAS — Healthcare Trust of America has purchased a two-property medical office portfolio in Denton and Lewisville from an undisclosed party for $13.5 million. One of the properties, which spans 35,720 square feet, is located on Texas Health Presbyterian Hospital Denton's campus. The 10-year-old building is fully leased to Texas Health Resources through 2017. The Lewisville property is 18,000 square feet and is fully leased to Texas Oncology.
HOUSTON — A Texas-based partnership has sold the 68-room La Quinta Inn & Suites Houston Normandy to a private party for an undisclosed amount. The Houston property, which was built in 2008, carried a list price of $5.2 million. Michael Yu, Rahul Bijlani and Eric Guerrero of Marcus & Millichap represented the seller.
HOUSTON — Cadence McShane Construction Co. will soon start work on the 110,160-square-foot Edgewood Elementary School for the Spring Branch Independent School District in Houston. The school will be located at the intersection of Hollister Road and Kempwood Drive. The school will span 38 classrooms, a science lab, a library, a cafeteria, a gym and music rooms. Construction was financed with a $597.1 million bond that has a term of 10 years. Delivery is slated for July 2011.