DENTON, TEXAS — A new Best Western Atrea has opened near downtown Denton. Situated in the Interstate 35 East Corridor, the 74-room hotel is the fourth hotel for the new concept, which caters to business travelers. The hotel includes 1,800 square feet of meeting space ranging from board rooms to the 100-person Atrea Hall. Other amenities include a cocktail lounge, a media center, a business center, a fitness center, a convenience store, and an outdoor pool and spa. The hotel is owned by Charles Helm, who also serves on the board of directors for Best Western International, and his wife, Sharon.
SAN ANTONIO — Construction has started for a new 88-bed patient tower at San Antonio Military Medical Center (SAMMC) at Fort Sam Houston in San Antonio. The tower is part of Phase I of the $556 million SAMMC project, which will consolidate Brooke Army Medical Center at Fort Sam Houston and Wilford Hall Medical Center at Lackland Air Force Base, also located in San Antonio. SAMMC, which will have North and South campuses, will consist of renovations to the existing Brooke Army Medical Center, a new parking structure and a new central energy plant. The project, which was designed by RTKL to LEED-Silver specifications, will total 1.1 million square feet upon completion. The general contractor is a partnership between Clark Construction Group and Hunt Construction Group. Phase I completion is slated for fall 2011.
SAN ANTONIO — San Antonio-based USAA Real Estate Co. has acquired an 80 percent interest in the Regency Retail Portfolio, which consists of eight grocery-anchored retail centers totaling 813,193 square feet. The properties are located in major markets across the country, including Los Angeles, San Francisco, Houston, Dallas/Fort Worth, Atlanta, Orlando, Fla., and Raleigh/Durham, N.C. At the time of closing, the portfolio was 94 percent leased to tenants that include Kroger, Safeway, Publix, the United States Postal Service, CVS/pharmacy, Hallmark Gold Crown and Subway. The other stakeholder in the portfolio, Regency Centers Corp., will retain a 20 percent interest in the portfolio.
HOUSTON — Hendricks & Partners (H&P) has completed the sale of Chateau Village, a 150-unit apartment community located at 3815 Fuqua St. in Houston. Chateau Village is a HUD/HAP property and is the last of a three-property portfolio to sell. The buyer, Plymouth, Minn.-based Houston Leased Housing Associates I LP, received Section 142 Low-Income Housing Tax Credits as well as a grant from the City of Houston, and it plans to apply the funds toward the purchase of the property and its rehabilitation. Kevin McCarthy and Jeff Eisenhardt of H&P's Houston office represented the seller, Keswick, Va.-based Commercial Partners Exchange dba Chateau Village Apartments, Ltd. The acquisition price was not disclosed.
HOUSTON — Houston-based Pacific Sun Investments has acquired a 30,000-square-foot office building located in Houston from an investment fund sponsored by Brookfield Asset Management. The property is situated on 3.7 acres at 10411 Westheimer within the city's Westchase submarket. The building was fully occupied at the time of closing, with JPMorgan Chase leasing half of it. Dan Miller and Trent Agnew of the Houston office of Holliday Fenoglio Fowler represented the seller, Brookfield Real Estate Opportunity Fund. The buyer purchased the property free and clear of debt for an undisclosed amount.
ARLINGTON, TEXAS — Lee & Associates has completed the sale of a 56,841-square-foot warehouse located at 1721 Susan Dr. in Arlington. Donnie Rhode of Lee's Dallas/Fort Worth office represented the seller, Data Distribution Service, and Mark Graybill, also of Lee, represented the buyer, Package Express. The acquisition price was not disclosed.
DESOTO, TEXAS — Mote & Associates has brokered the sale of a multi-tenant office building located in DeSoto. The 15,088-square-foot structure is situated on 1 acre at 1666 North Hampton. Bill Mote of Mote & Associates negotiated the deal, and he will continue to lease and manage the property.
DENTON, TEXAS — The new Homewood Suites by Hilton Denton has opened. The four-story, 107-suite hotel is located at 2907 Shoreline Dr. in Denton. It features studio, one-bedroom and two-bedroom suites. Amenities include a hospitality center, a business center, a 24-hour pantry, a swimming pool, a sports court, a grilling area and 1,500 square feet of meeting space. The owner of the Homewood Suites is CHGM Denton Hotel Partners and the manager is Chartwell Hospitality.
CARROLLTON, TEXAS — Arizona-based MC Cos. has acquired Saddle Creek Apartments, a workforce housing community located in the Dallas suburb of Carrollton. The Class B, garden-style property contains 238 units. MC purchased the community from Equity Residential. Acquisition financing was arranged by PNC ARCS through the Federal Home Loan Mortgage Corp. The acquisition price was not disclosed.
HOUSTON — Mac Haik Enterprises has opened the new Embassy Suites – Energy Corridor at 11730 Katy Freeway in Houston. The 14-story hotel contains 216 suites. Amenities include 7,000 square feet of meeting space, a full-service restaurant and lounge, an indoor pool with an outdoor tanning terrace and a fitness center. The hotel is situated within Mac Haik's Energy Plaza Office Park. The hotel is managed by Aimbridge Hospitality.