HOUSTON — Hendricks & Partners has brokered the sale of Williamstown, a 272-unit, Class C apartment community located at 9200 Bissonnet St. in Houston. Ed Cummins and Clint Duncan with Hendricks’ Houston office represented the seller, locally based Creekstone Holdings I LLC. Williamstown was acquired by locally based Diep Residential for an undisclosed amount. The purchase was financed by Metro Bank with loan carrying a 7-year term and a 75 percent loan-to-ratio.
UNIVERSAL CITY, TEXAS — The first phase of renovations are nearing completing for the Taj Mahal, one of the buildings located on Randolph Air Force Base in Universal City. Construction under way includes the $800,000 renovation of the building’s movie theater. The roof is being replaced, the ceiling is being restored, new air conditioning equipment is being installed, walls are being re-plastered and painted, carpeting is being replaced and a handicapped-accessible restroom is being built. Completion is scheduled for July. The theater renovation is part of a $10 million project designed the improve the Taj Mahal, which houses the headquarters for the 12th Flying Training Wing and the 12th Mission Support Group, as well as base offices for the legal, public affairs and inspector general departments. The next phase of construction, which will begin in 2010 or 2011, will include ensuring ADA compliance, installing elevators and re-plastering work.
SAN ANTONIO — NorthMarq Capital has arranged first-mortgage financing for 8500 Village Medical Office Building, a 23,165-square-foot property located in San Antonio. The building is currently occupied by Radiology Associates, Monarch Dental, Pathways Services and other medical groups. Roger Trapnell and Warren Hitchcock of NorthMarq’s Houston office secured the loan, which carries a 25-year term and a 25-year amortization schedule. The lender was StanCorp Mortgage Investors. The borrower and the loan amount were not disclosed.
HOUSTON — The University of Houston has selected the Austin, Texas, office of Hardin Construction Co. for a new $50 million undergraduate housing project. The facility, which will be situated on the university’s central campus, will consist of a seven-story, 300,000-square-foot residential building. It will feature 1,172 beds. Resident advisor offices, a social lounge, a computer lab, multi-purpose rooms, a fitness center and a convenience store. Construction will begin this month, with completion expected by the start of the fall 2010 semester. The new facility will accommodate incoming freshmen and is part of the university’s goal to increase the number of students living on-campus. The university eventually plans to house the entire first-year class on campus. According to university officials, this new project marks the first time since 1970 that the university will have a residential building dedicated specifically to freshmen.
ABILENE, TEXAS — The ribbon cutting has been held for a newly constructed wind tower manufacturing facility located in Abilene. The facility, which is situated on 42 acres, comprises 146,000 square feet of production space and 20 acres of storage space. Wind tower production began in February. The facility is operated by Tower Tech Systems, a subsidiary of Naperville, Ill.-based Broadwind Energy. Tower Tech currently operates another wind tower manufacturing facility in Manitowoc, Wis., and is constructing a third facility in Brandon, S.D.
GARLAND, TEXAS — Denver-based Metro Wing LLC has acquired the 59-unit Kent Apartments out of foreclosure. The community is located on West Walnut Street in Garland. Its condition had deteriorated significantly over the years and Metro Wing is attempting to remedy that by launching a significant capital improvements program. Deferred maintenance from the previous owner will be completed, improvements will be made and the apartment will be repositioned to attract family-oriented tenants. The construction timetable was not released.
DALLAS — Class AA luxury office building Saint Ann Court has topped out in Dallas. Featuring more than 320,000 square feet spread over 26 stories, the LEED-certified office tower is the tallest in Uptown Dallas. The building represents the sixth phase within Harwood International’s planned 17-phase Harwood district, which will ultimately include more than 7 million square feet of condominium, office, retail and residential development. The tower incorporates the historic St. Ann’s School — the first Catholic school for Mexican-American children — into its design by preserving the school’s exterior as well as converting its interior space into a café, a bar and lounge and an art collection. Los Angeles-based Shimoda Design Group designed the building, and Austin Commercial serves as general contractor. Harwood Design Studio partnered with Shimoda Design Group on the landscape design, including a 12,000-square-foot garden on the 12th floor. Saint Ann Court is scheduled to open this fall with a tenant roster featuring Amegy Bank; The Boston Consulting Group; McGuire, Craddock & Strother; and Harwood International’s new headquarters.
IRVING, TEXAS — Marcus & Millichap Real Estate Investment Services has closed the sale of MacArthur Plaza, a 54,543-square-foot retail property in Irving. Todd Carlson of the firm’s Houston office marketed the property on behalf of the seller, Silvestri Investments. An out-of-state investor purchased the fully occupied property, which is located at 2802 N. MacArthur Blvd. just north of Highway 183. Tenants at the center include Family Dollar, Ace Cash Express and 12 others.
SAN ANTONIO — San Antonio-based Cross Metal Buildings has opened Phase II of Northern Hills Storage, a self-storage facility located at 4011 Stahl Rd. in San Antonio. The two-building addition totals 18,200 square feet and includes 134 climate-controlled units. Janus International supplied unit doors and hall systems; Whirlwind Components, Dynamic Fasteners, Davis Metals and Bay Insulation Systems also provided materials for the buildings.
HOUSTON — Stream Realty Partners has announced that FedEx SmartPost has signed a lease for approximately 85,000 square feet at The Hardy Distribution Center, located in Houston. FedEx SmartPost plans to move into the center in a few months. Justin Robinson and Kyle Valentine of Stream Realty Partners represented the landlord, ING Clarion Partners, and John Beggy and Chris Perkins of Fischer & Co. represented FedEx SmartPost in the lease negotiations.