THE WOODLANDS, TEXAS — HealthMark Group has acquired a 6-acre site located on Windsor Lakes Boulevard in The Woodlands for the development of a new senior housing project. Park Manor of The Woodlands will be a 124-bed skilled nursing and rehabilitation facility that will provide short- and long-term care. Groundbreaking is expected in the first quarter, with the grand opening scheduled for January 2011. It will be HealthMark's ninth project in the Houston area, and HMG Services will operate it. Richard Stromatt of GDC Realty represented HealthMark in the land purchase. Cody Christopher of Colliers Texas represented the seller, The Woodlands Development Company.
SAN ANTONIO — Bunkhouse Management has acquired the historic Havana Riverwalk Inn located on the San Antonio Riverwalk. The company is currently renovating the hotel and plans to reopen it in April. The 22,000-square-foot property originally opened in 1914 and is on the National Register of Historic Places. The seller's name as well as the acquisition price were not disclosed.
AUSTIN, TEXAS — Marcus & Millichap has completed the sale of Shady Oaks South Apartments, a 238-unit multifamily property located in Austin. The Class B community is situated at 4320 S. Congress Ave. It contains a mix of one- and two-bedroom units and occupancy was 75 percent at the time of the sale. Norman Eastwood of Marcus & Millichap's Dallas office represented the seller, a Houston-based partnership, and procured the buyer, a local private investor. The acquisition price was not disclosed.
PARIS AND GARLAND, TEXAS — Dallas-based Henry S. Miller Brokerage (HSMB) has completed two Texas transactions. In Paris, HSMB's Mark Porterfield represented Paris Properties Ltd. in the sale of a 100-unit multifamily property to Lafayette, La.-based Entourage Legacy. The property is known as Regency Apartments and is located at 25265 Lamar Ave. Occupancy was 97 percent at the time of closing. Richard Pool of Shreveport, La.-based Pool Realty Services represented the buyer. Jay Porterfield of Arbor Commercial Mortgage arranged the acquisition financing. In Garland, HSMB's Dan Spika represented Shelbo Development in the acquisition of a 42,000-square-foot industrial facility. Situated at 2950 W. Miller Road, the property totals 10 acres and contains direct rail access. The buyer plans to utilize the property for storage. Larry Leon of CB Richard Ellis represented the seller, Pro-build Real Estate Holdings. The acquisition prices in both transactions were not disclosed.
HUMBLE, TEXAS — NAI Houston has brokered the acquisition of an 18,180-square-foot industrial building located at 8541 N. Sam Houston Parkway in Humble. Chris Caudill and Joel Michael of NAI represented the buyer, Electro Technical Industries. Howard Sims of Workplace Solutions represented the seller, Carrier Air Systems. In addition, Electro Technical Industries purchased 3.65 acres of land at the corner of East North Belt and North Park drives, also in Humble. Caudill and Michael also represented Electro in this transaction. Ryan Wasaff and Brad Berry of GSL represented the seller, GSL Constructors.
DRIPPING SPRINGS, TEXAS — Marcus & Millichap Real Estate Investment Services has sold a 13,650-square-foot Walgreens located at 27495 Ranch Road 12 in Dripping Springs for $5.3 million. Marcus & Millichap's Alvin Mansour of the firm's San Diego office had the listing to market the property on behalf of the seller, a developer. Chris Gomes and Tim Speck of the firm's Dallas office assisted in closing the transaction.
IRVING, TEXAS — The Minimally Invasive Spine Institute (MISI) has opened a 7,000-square-foot facility located on MacArthur Boulevard in Irving's Las Colinas neighborhood. The facility is the first of two facilities MISI plans to open in the Dallas area. The second facility will open on North Central Expressway in Dallas this fall. Dallas-based Clarity Development assisted MISI with the development of the facility. Holtman Design provided interior design services and Highland Builders was the general contractor.
DALLAS — Arbor Commercial Funding has arranged $6.84 million in Fannie Mae DUS funding for Carlisle on the Creek, a 176-unit multifamily community located in Dallas. The loan carries a 7-year term with a 30-year amortization schedule and a 5.55 percent interest rate. Anthony Tarter of Arbor's Dallas office originated the financing, which includes reserves for capital improvements to the property. The borrower's name was undisclosed.
CARROLLTON, TEXAS — Dallas-based Harkinson Investment Corp. has acquired a 60,530-square-foot office/flex property located in Carrollton. Constructed in 1999, the building is located at 2532-2542 Highlander Way. It is fully leased to Pivot Building Systems, Abstract Construction and Fast Signs Holding Corp. — the last of which uses the space as its national headquarters. Ron Hebert of the Dallas office of Marcus & Millichap represented Harkinson, which purchased the property through a limited partnership. Michael Lawrence of Marcus & Millichap's Newport Beach, Calif., office and Scott Ryan of the firm's Dallas office represented the seller, FR/CAL Highlander LLC, which is an entity sponsored by First Industrial Realty Trust. Acquisition financing was arranged by the Dallas office of NorthMarq Capital through Aviva Investors of North America.
SAN ANTONIO — CB Richard Ellis (CBRE) has brokered the sale of a 101-unit apartment community located at 2819 SE Military Dr. in San Antonio. Nita Stewart of CBRE represented the seller, ORIX Capital Management. The buyer was Aristocrat Developments. The acquisition price was not disclosed.