HOUSTON — Marcus & Millichap has brokered the sale of Villa Nueva Apartments, a 98-unit multifamily community located in Houston. The property is situated on 2.4 acres at 827 Oak St. It was constructed in 1969. Brian Janak of Marcus & Millichap's Houston office represented the seller, a limited liability company. The buyer was not disclosed. The acquisition price was also not released, but the property listed for $1.57 million.
ARLINGTON, TEXAS — The Longview, Texas, office of Deason Financial Group has arranged $3.8 million in acquisition financing for a 176-unit apartment community located in Arlington. The property was built in 1974 and recently renovated. Occupancy was 92 percent at the time of closing. Dana Deason of Deason Financial secured the loan on behalf of a Boston-based investor group. The loan carries a 10-year term, a 30-year amortization schedule, a low-6 percent interest rate and an 80 percent loan-to-value ratio. The lender was Greystone Servicing Corp., which utilized the Fannie Mae DUS program.
SAN ANTONIO — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged the sale of Woodlake Crossing, a 160,000-square-foot shopping center located in San Antonio. The center, which was built in 2009, is situated at the corner of FM 78 and Woodlake Parkway. It is 81 percent occupied by a tenant roster that includes Best Buy, Ross Dress For Less, Office Max and Petco. It is shadow-anchored by a Target. Doug Hazelbaker and Ryan Shore of HFF's Dallas office represented the seller, David Berndt Interest. The buyer was Inland American, an affiliate of The Inland Real Estate Group of Companies.
WARR ACRES, OKLA. — Hunington Properties has brokered the sale of a Walgreens pharmacy located at the corner of North MacArthur Road and Northwest 63rd Street in Warr Acres. Philip Mullett and Sandy Aron of Hunington represented the seller, an Illinois family trust. The buyer and the acquisition price were undisclosed.
VIDOR, TEXAS — Marcus & Millichap has completed the sale of an 11,200-square-foot CVS/pharmacy located in Vidor for $2.2 million. The property is situated on 1.3 acres at 1295 N. Main St. It was constructed in 1999. CVS currently occupies it under a 20-year, triple-net lease with four 5-year options. Alvin Mansour of Marcus & Millichap's San Diego office partnered with the firm's Dallas office to represented the seller, an undisclosed seller. Mohamed Derbala of Marcus & Millichap's Tampa, Fla., office represented the buyer, a limited liability company. Tim Speck of Marcus & Millichap assisted in the transaction.
AUSTIN, TEXAS — Hendricks & Partners has brokered the sale of Southwood, a 44-unit apartment community located in Austin. The property contains 23,775 rentable square feet situated on 1.03 acres at 1901 Fortview Road. Ellen Muskin and George Deuillet III of Hendricks & Partners' Austin office represented the seller, San Marcos, Texas-based Jermyles Properties. Dave Bair of Prudential Texas Realty represented the buyer, locally based Fortwood Apartments LLC. The acquisition price was not disclosed.
HOUSTON — Houston-based Situs has completed the sale of a 26,398-square-foot office building located at 8831 Long Point in Houston, directly across from Spring Branch Medical Center. Maury Bronstein of Situs represented the seller, Gusma Properties. The buyer's name and the acquisition price were undisclosed.
AUSTIN, TEXAS — Arbor Commercial Funding has arranged $1.65 million in Fannie Mae DUS financing for Austin Pacifica Apartments, a 102-unit multifamily community located in Austin. The loan carries a 10-year term, a 25-year amortization schedule and a 5.67 percent interest rate. It was originated by Jay Porterfield of Arbor's Plano, Texas, office on behalf of the undisclosed borrower.
HOUSTON — Construction is complete for the expansion of the Julia Ideson Building, a historic library building located at 500 McKinney St. in Houston. A new archival wing totaling 21,500 square feet was added. It includes a research room on the first floor with the remainder of the three-story wing containing high-density shelving space for the Houston Metropolitan Research Center. Also built was a two-story loggia that provides open-air seating as well as an garden and outdoor reading room. The new wing is scheduled to open in the first quarter of 2010 once the archives are moved into it. Once that occurs, construction will begin for the complete renovation of the remainder of the 66,000-square-foot Ideson building. Completion of the entire $32 million project is slated for spring 2011. The project will be applying for LEED-Silver certification. The project architect is Gensler, with landscape architecture services being provided by TBG Partners. The construction manager is SpawMaxwell.
DALLAS — Equinox Fitness Clubs has opened its second Texas location in Dallas. The 30,000-square-foot facility is located on Hillcrest Road in the city's Preston Hollow neighborhood. It features six fitness studios, a rooftop terrace and a water feature. Fitness club amenities include a retail store, a cafe, a kid's club, a full-service space, a fully amenitized locker room area and wireless Internet access.