TOMBALL, TEXAS — Locally based investment and management firm LandPark Advisors has purchased Sentinel Self Storage, a 350-unit facility located on a 4.7-acre site in the northwestern Houston suburb of Tomball. The facility, which opened in April, spans 80,195 net rentable square feet and features an automated security gate with key code access, roll-up doors, a manager’s office and video surveillance throughout the property. The seller and sales price were not disclosed.
HOUSTON — Bechtel has signed a 108,724-square-foot office lease expansion in West Houston. The engineering and construction management firm is taking an additional four floors of space at Building 4 at CityWestPlace, with occupancy slated for the third quarter. Kevin Kushner and William Padon of CBRE represented the tenant in the lease negotiations. J.P. Hutcheson and Rima Soroka represented the owner, a partnership between Parkway and Midway, on an internal basis.
OKLAHOMA CITY — Dallas-based Mercer Co. has completed a 101,268-square-foot industrial project in Oklahoma City. The project, which consists of nine buildings on an eight-acre site, represents Phase I of a larger development known as OrderMatic Business Park. The buildings can accommodate users with requirements from 3,321 to 88,862 square feet. Mercer Co. is also leasing the project and recently opened an office in Oklahoma City to facilitate that objective.
AMARILLO, TEXAS — PMZ Realty Capital has arranged a $19 million loan for the refinancing of a dual-branded hotel in Amarillo. The hotel opened in 2021 and totals 235 rooms under the Four Points and Fairfield Inn & Suites flags, which are part of the Sheraton and Marriott family of brands, respectively. The names of the borrower and the CMBS lender that provided the loan were not disclosed.
PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of The Regency, a 100-unit apartment complex in Paris, about 100 miles northeast of Dallas. Built in 1985, the property offers one-, two- and three-bedroom units as well as a pool, onsite laundry facilities and outdoor grilling and dining stations. Yonnic Land of TMG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
SAN ANTONIO — JLL has brokered the sale of Cottages at Leon Creek, a 284-unit build-to-rent (BTR) residential community in northwest San Antonio. The development’s two-story homes come in two-, three- and four-bedroom formats, and some residences feature fenced-in private yards. Amenities include a pool, fitness center, cinema, private workstations and pickleball courts. Cottages at Leon Creek was 92 percent occupied at the time of sale. Robert Arzola, Ryan McBride, Robert Wooten, Matthew Putterman and Daniele Colbertaldo of JLL represented the undisclosed seller in the transaction. Jayme Nelson, Brian Carlton and Leon McBroom, also with JLL, arranged acquisition financing for the deal on behalf of the undisclosed buyer.
HOUSTON — Locally based developer Lovett Commercial is nearing completion of The Lawndale, a 106-unit multifamily project in Houston’s Pecan Park neighborhood. The complex offers one-, two- and three-bedroom units that range in size from 555 to 1,307 square feet and amenities such as a pool, business center and an outdoor cooking and entertainment pavilion. Half of the residences are reserved for households earning 80 percent or less of the area median income. Construction began in April 2023, and the first residents have begun moving in. Rents start at $1,080 for a one-bedroom apartment.
HOUSTON — Empyrean Benefit Solutions Inc. has signed a 41,667-square-foot office lease in West Houston. The provider of software for the human resources industry will occupy two full floors within Building 4 at the 39-acre CityWestPlace starting early next year. Mark O’Donnell and Jennifer Meehan of Savills represented the tenant in the lease negotiations.J.P. Hutcheson and Rima Soroka represented the owner, partnership between Parkway and Midway, on an internal basis.
HOUSTON — Birmingham, Ala.-based investment and brokerage firm Shannon Waltchack has acquired The Vintage Center, a 29,483-square-foot unanchored retail center located at 10300 Louetta Road in northwest Houston. The center was fully leased at the time of sale to tenants such as First Community Credit Union, Vintage Smile Family Dentistry, Chicken Salad Chick, Memorial Hermann-GoHealth and Trademark Salon. John Indelli and Ryan West of JLL represented the undisclosed seller in the transaction.
SAN ANGELO, TEXAS — BMC Capital has arranged a $1.8 million loan for the cash-out refinancing of an unnamed multifamily property located in the West Texas city of San Angelo. The loan was structured with a 10-year term, a fixed interest rate of 6.59 percent, a 65 percent loan-to-value ratio (LTV) and two years of interest-only payments followed by a 30-year amortization schedule. The borrower and direct lender were also not disclosed.