AUSTIN, TEXAS — Los Angeles-based Post Investment Group has purchased the 370-unit University Heights apartment complex from GCCFC 2005-GG5 for an undisclosed amount. The property, located at 2000 and 2101 Burton Drive in Austin, features a business center, a fitness center, two pools and sports courts. New York-based Hudson Realty Capital provided funding for the purchase. Hendricks & Partners' Ellen Muskin and George Deuillet, III, represented the seller.
Texas
LA PORTE, TEXAS — The joint venture between ML Realty Partners and National Property Holdings has tapped Colliers International to lease and market Port Crossing Commerce Center, a 300-acre logistics park being constructed in La Porte. Planned buildings will eventually encompass 4 million square feet of new warehouse space. The site is designated as a foreign trade zone and features rail access. Colliers International's Michael J. Taetz, Gary A. Mabray and Jason Dillee are handling the project.
LUBBOCK, TEXAS — Marcus & Millichap has brokered the sale of the 124-unit Lubbock Square apartment complex in Lubbock between a court-appointed receiver and an undisclosed buyer. The property, which was built in the mid-'70s, is composed of 15 buildings spread across 5.44 acres of land. The firm's Tommy Lovell arranged the transaction.
DALLAS AND GRAND PRAIRIE, TEXAS — Leo A Daly will design Grand Prairie Clinic and Maple Family Center Replacement for the Parkland Health & Hospital System in Grand Prairie and Dallas, respectively. The freestanding Grand Prairie clinic will span 35,000 square feet and will be built on the site of a former police station. The 60,000-square-foot Dallas project will include space for primary and preventative care services as well as office space for physicians.
CORPUS CHRISTI, TEXAS — A&W has purchased the former Wilcox Furniture store from the Wilcox family for an undisclosed price. Located at 5933 S. Padre Island Drive in Corpus Christi, the property includes a 30,000-square-foot retail building and a 14,000-square-foot warehouse. Wilcox Furniture relocated from the site in 2007. Transwestern represented the buyer, and NAI Cravey's Lynann Pinkham represented the seller.
MCKINNEY, TEXAS — KDC will develop and market the 160-acre corporate district of the 250-acre Craig Ranch employment district. Valued at $364 million, the corporate district is located on State Highway 121 near the North Texas Tollway in McKinney. The firm is targeting tenants looking for a build-to-suit space for either new corporate headquarters or a relocation. Craig Ranch also contains a 90-acre medical district; 45 percent of that space has already been reserved by The Cooper Fitness Center & Spa, Cooper Clinic, The Hospital at Craig Ranch and Tuscarora.
HOUSTON — Skanska USA Building will start construction in August on a $42 million expansion for Harris County Hospital District at Holly Hall Hospital in Houston. The firm will build a 52,000-square-foot, five-story building that will house radiation therapy and diagnostic imaging services. Delivery is slated for July 2012.
DALLAS — USAA Real Estate Co. has purchased The Mondrian at CityPlace, a mixed-use property in Dallas, from ZOM Cityplace for an undisclosed amount. The 5-year-old, transit-oriented development, which is located at 3000 Blackburn St., contains 218 apartment units and 19,497 square feet of retail space. The street-level retail space is populated by Med-Health, Toscana Pizza, The Cupcake Factory and others. Apartment amenities include a wireless cyber café and a resort-style pool.
LAKEWAY, TEXAS — Walker & Dunlop has secured a $167 million construction loan for the planned 270,427-square-foot Lakeway Regional Medical Center in Lakeway. The HUD loan was underwritten at a 90 percent loan-to-cost rate and carries a 25-year amortization schedule. When complete, the property will feature a 52,071-square-foot parking garage, emergency rooms, diagnostic imaging areas and space for a full array of healthcare services.
DALLAS — Marcus & Millichap has brokered the sale of the 98-unit Lakewood Colony apartment complex between two private parties for an undisclosed amount. The property is located on a 4.95-acre site near the intersection of Garland and Gaston avenues in Dallas. The buyer is planning to renovate Lakewood Colony. The firm's Nick Fluellen, who is based in Marcus & Millichap's Dallas office, represented both parties in the transaction.