OKLAHOMA CITY — Dennis Sidbury of NorthMarq Capital's San Francisco office has secured a $24 million loan for the 398-unit Sycamore Farm Apartments. The property is located at 14900 N. Pennsylvania Ave. in Oklahoma City. AmeriSphere Multifamily Finance provided funding for the 10-year loan, which carries a 30-year amortization schedule.
Texas
ODESSA, TEXAS — Stephen York of Arbor Commercial Funding has arranged a $2.4 million loan for Briarwood Village Apartments in Odessa. Located at 3904 Englewood Circle, the property spans 74 units. The Fannie Mae loan carries a 10-year term and a 30-year amortization schedule.
DALLAS — Brookfield Asset Management has purchased the 200,000-square-foot Two Addison Circle office building from an undisclosed lender for $16 million. The price represents a 50 percent discount to replacement costs. The company made the acquisition through its Real Estate Opportunity Fund. Two Addison Circle is currently vacant.
IRVING — Ricochet has leased 52,000 square feet of office space in the 316,500-square-foot Twinrose Regent from an undisclosed landlord. The property is located in International Commerce Park in Irving. The tenant will move into the space in October. Hudson Peters Commercial's Michelle Hudson and Cincha Kostman represented the landlord. Michael Swaldi and Forshey Hoobler of Jones Lang LaSalle represented Ricochet.
FORT WORTH, TEXAS — Albertson's and Cook Children's Health Care have signed leases totaling 77,620 square feet at Westcliff Shopping Center in Fort Worth. The 136,320-square-foot property is located at 3511 Biddison St. Albertson's leased a 39,120-square-foot, stand-alone building and has invested $5 million in upgrades to the property. Cook renewed its 38,500-square-foot lease.
LIVINGSTON, TEXAS — Cadence McShane Construction Co. is developing the 50,793-square-foot, build-to-suit office headquarters for Sam Houston Electric Cooperative. The single-story property will be located at 1157 East Church St. in Livingston. Delivery is slated for April 2011. The building includes 30 private offices, three meeting rooms, seven conference rooms, a wellness center and a kitchen.
HOUSTON — Arch-Con Construction has finished work on the 96,630-square-foot GET Industrial Warehouse in Houston. The property is located on West Sam Houston Parkway North. The building, which features 20-foot clear height, consists of 84,460 square feet of warehouse space and 11,900 square feet of office space.
COLLEYVILLE, TEXAS — The Colleyville City Council has approved a zoning request from Senior Living Resource Group for Rosewood Park, a 60,000-square-foot memory care facility. The $6 million property will be constructed at the intersection of Precinct Line Road and Lavaca Trail in Colleyville. DFW Construction will build the 65-unit development.
HUMBLE, TEXAS — PinPoint Commercial and Humble Surgical Hospital LLC have completed a 30,000-square-foot surgical hospital in Humble. The facility is located at 1475 FM 1960 Bypass E. The property contains six operating rooms, an emergency room, two treatment rooms and a handful of recovery rooms. PinPoint also is planning a 45,000-square-foot medical office building next to the hospital. The development is slated to break ground this fall.
HOUSTON — Hartman 1960 Properties has bought the 142,194-square-foot office building at 616 FM 1960 West in Houston from Koll Bren Fund V for an undisclosed amount. The property is 74 percent occupied. Tenants include Chase Bank and AEI Engineering. Dave Wheeler and Julian Kwok represented the buyer internally. Lucescu Realty's Mark Lucescu represented the seller.