SUGAR LAND AND DALLAS, TEXAS — BMC Capital has arranged a total of $2.38 million for two Texas properties. In the first transaction, BMC originated a $1.84 million loan for the refinancing of Primrose Sugarland, an owner-occupied building located at 6550 Greatwood Pkwy. in Sugar Land. Greg Kunard of BMC's Houston office arranged the loan, which carried an 80 percent loan-to-value ratio. In the second transaction, BMC originated a $540,000 loan for the acquisition of a Jack in the Box restaurant located at 9661 Skillman St. in Dallas. Terms of the loan, as well as the parties involved, were not disclosed.
WILMER, TEXAS — US Industrial REIT II, an affiliate of USAA Real Estate Co., has completed a lease for 286,000 square feet at I-45 Tradeport I, a distribution facility the company owns in Wilbur. The 520,000-square-foot building is situated at 101 Sunridge Blvd.; in features cross docking, 47 dock doors, 44 trailer positions with room for expansion and 140 truck courts. Gary Collett, Dan Cook, Mark Becker and Ashley Pope of Cushman & Wakefield represented USAA in lease negotiations. The tenant and the terms of the lease were not disclosed.
BULVERDE, TEXAS — Construction has begun for Berry Oaks Shopping Center, a new retail project located in Bulverde. The 19,349-square-foot neighborhood retail center will be situated at the intersection of Highway 46 and Berry Oaks Drive. Tenants already secured include Smoky Mo's Bar-B-Q, Quality Dollar, Texas Paddlesports and Pinky's Nail Salon. Letters of intent have also been secured for three additional tenants. Completion is slated for November. Brandt and Clayton Klutts are developing Berry Oaks. Gene Williams and Marcus Shaffer of The Weitzman Group are handling leasing.
AUSTIN, TEXAS — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged $32.2 million in financing for AMLI on 2nd, a multifamily tower located in Austin. Situated at 421 W. Third St., the Class A tower totals 19 stories; it contains 231 one- and two-bedroom units as well as approximately 41,000 square feet of ground-floor retail space. Amenities include a fitness center, a sky deck with a pool and barbecue grills, a business center, a resident lounge and garage parking. HFF's Scott Galloway and Matt Kafka arranged the loan on behalf of AMLI Residential Properties. Terms of the financing include an adjustable interest rate and a 7-year term. The lender was Freddie Mac.
LEWISVILLE, TEXAS — PCCP LLC has acquired 121 Lakepointe Crossing, a three-building, 1.2 million-square-foot industrial property located in Lewisville, for $29.9 million. PCCP acquired the Class A asset from Opus West through the U.S. Bankruptcy Court. The property is currently 65 percent leased to four tenants. The acquisition was made on behalf of California Smart Growth Fund IV, PCCP's $746 million investment fund.
HOUSTON — King & Spalding has renewed its lease for 116,732 square feet of space at 1100 Louisiana, a 55-story office building in downtown Houston. Hines is the landlord of the 98 percent-leased property. Tim Relyea of Cushman & Wakefield of Texas represented the law firm, which has been a tenant in the building since 1995. Additionally, oil and gas energy company Vitol Inc. has renewed and expanded its lease at the building. The company, which has been a tenant since 1997, now will occupy 43,000 square feet. Trey Strake and Chris Oliver of Cushman & Wakefield of Texas, Inc. represented Vitol in lease negotiations. Chrissy Wilson, Paula Bruns and Mark Janssen of Hines represented the landlord in both transactions.
BROWNSVILLE, TEXAS — The Woodlands, Texas-based LMI Capital has arranged $3.3 million in debt for the refinance of Los Cedros Apartments, a 135-unit multifamily project in Brownsville. Chris Pollard of LMI Capital worked on behalf of LCBT, LTD to secure the 10-year, fixed-rate loan, which was funded through one of LMI Capital's Fannie Mae lending sources.
DALLAS — The grand opening has been held for the new Aloft Downtown Dallas, a 193-room hotel located at 1033 Young St. in Dallas. The project consisted of the adaptive re-use of an eight-story, former railroad freight depot that was constructed in 1924 and used by the Santa Fe Railroad. The hotel project was designed by One Group Design and is seeking LEED certification. It is owned by a joint venture between locally based companies Hamilton Properties Corp. and Sava Holdings under a licensing agreement with Starwood Hotels & Resorts.
DALLAS — Parkland Health & Hospital Systems has signed a lease for 67,000 square feet at 8435 Stemmons, an 11-story, Class A office building located in Dallas. The company is using the space as a temporary location while its new campus is under construction. The transaction was negotiated by Red River Asset Management. Parkland is the second tenant at the 229,605-square-foot office building. Earlier this year, Telx signed a lease for 25,000 square feet. The two leases bring occupancy to 45 percent. Red River's leasing plan for the property, which is owned by Lakewood, N.J.-based Diversified Capital, is to reposition the fourth floor as ready-to-occupy office suites and land a two-floor anchor tenant, which will have the option of naming rights to the building.
HOUSTON — Arbor Commercial Funding has secured $7.5 million in Fannie Mae DUS financing for Green Oaks Village, a 380-unit multifamily community located in Houston. The loan carries a 10-year term with a 25-year amortization schedule and a 6.34 percent interest rate. Matt Norman of Arbor's Dallas office originated the financing. The funds will be used by the undisclosed borrower to refinance a short-term, acquisition/construction loan.