HALTOM CITY — Anthony Tarter of Arbor Commercial Funding has secured a $1.08 million loan for Haltom Oaks Apartments. The 68-unit property is located in Haltom City. Fannie Mae funded the 25-year loan, which carries a 5.51 percent interest rate.
Texas
The resumption of job growth and significant reductions in new construction will support improvement in Dallas/Fort Worth apartment fundamentals through the end of the year. During the first half of 2010, employment in the metroplex increased by 32,600 jobs, a welcome turnaround after the loss of 124,000 positions during the recession. While the financial, information and trade, transportation and utilities sectors shed a combined 6,000 jobs in the first half, the government, manufacturing, and education and health services sectors led job creation, adding 34,000 positions. As a result, the unemployment rate in Dallas/Fort Worth dropped roughly 10 basis points to 8.2 percent in the first half and remains well below the national average. Developers will deliver approximately 7,600 apartment units in 2010, down nearly 56 percent from 2009 and more closely aligned with new-supply trends in 2006 and 2007. Construction remains focused on the Dallas side of the Metroplex, with developers in Tarrant County completing 2,675 units during the past year. New supply in Fort Worth was isolated to the North Arlington, Northern Tarrant County and Northwest Fort Worth submarkets. After rising 360 basis points through the recession, apartment vacancy in Dallas/Fort Worth declined 80 basis points to 8.9 percent …
HOUSTON — Medco Medical Supply has signed a 46,440-square-foot lease with Liberty Property Trust in Houston's Round Up Business Park. Liberty purchased the 227,800-square-foot industrial property, which is located near North Sam Houston Parkway, in July. Medco will move from its current location in the Legacy Center Business Park this December.
DALLAS — McGary Group II has leased 25,676 square feet of industrial space to Allied Stone in Dallas. The property is located at 2405 Crown Road. Lee & Associates' Nathan Denton and Hanes Chatham represented the landlord. CB Richard Ellis' Michael Chiocca represented the tenant.
DALLAS — Koll Bren Fund V has sold the 266,412-square-foot Gateway Tower to Hartman Income REIT for an undisclosed amount. Located at the intersection of Lyndon B. Johnson Freeway and North Central Expressway in Dallas, the property stands 15 stories tall. Tenants in the office building, which is 77 percent leased, include Ashton Residential, Humana Health Plan of Texas, and the Crane and Hernandez law firm. Jones Lang LaSalle's Jack Crews represented the seller. Dave Wheeler and Julian Kwok represented the buyer in house.
HOUSTON — The Shops at Stone Creek LLC has purchased the 98,300-square-foot Shoppes at Stone Creek from a private buyer for an undisclosed price. The four-building property is located on FM 529 near Barker Cypress Road in Houston. Dollar City, Starlight Furniture, Fajita Rita and La Pasadita are some of the tenants housed in the center. Divergent Resources' Russ Krengel represented the buyer in the transaction. James Namken of The Weitzman Group represented the seller.
FORT WORTH — Jody Thornton and John Ahmed of Holliday Fenoglio Fowler have secured a $32.75 million loan for The Berkeley, an apartment complex in Fort Worth. The 406-unit property, which was completed in 2008, is located at 2001 Park Hill Drive. Amenities include a pool and spa, a conference room and a fitness center. Metropolitan Funding Corp. provided financing for the 35-year, fixed-rate loan.
OKLAHOMA CITY — Q10 Kinghorn, Driver, Hough & Co. has arranged a $7.15 million loan for a warehouse leased to National Oilwell Varco. The 76,600-square-foot property is located in Oklahoma City. Aviva Investors funded the loan, which carries a 30-year amortization. Matt Franke of Q10 Kinghorn secured the loan.
GARLAND — Paul Brighton of NorthMarq Capital has secured $4.2 million in funding for the 160-unit Country Village Apartments. The property is located at 4362 W. Walnut in Garland. American Nortex Investment borrowed the 7-year loan.
TULSA, OKLA. — Anish Hotels Group has opened the 136-unit Aloft Tulsa, the first Aloft hotel in Oklahoma. The property is located at 6716 S. 104th E. Ave. in Tulsa. Amenities include more than 1,000 square feet of meeting space, a bar and free wireless Internet. LodgeWorks L.P. is managing the hotel.