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.
RICHMOND, TEXAS — The Houston office of Turner Construction Co. has completed the $66 million expansion and renovation of Fort Bend County Jail in Richmond. The expansion comprised a new nine-story, 213,000-square-foot building that adds 1,008 beds to the jail’s capacity. Additionally, 40,000 square feet of space was renovated at the jail’s existing building, including administrative offices, kitchens and laundry rooms. Turner also updated the jail’s security technologies and amenities. The two buildings are attached by a new linking connector. Atlanta-based Rosser International served as lead architect, with Houston-based AUTOARCH Architects serving as associate architect.
DALLAS — Henry S. Miller Brokerage (HSMB) has brokered the purchase of a 49-acre development site located at 700 W. Wheatland Rd. in Dallas. The buyer, Templo Betania Evangelistic Center, plans to construct a new worship facility on the site. Its current location is in a smaller building at 210 E. Jefferson Blvd. in Oak Cliff, Texas. Construction plans were not released. Bill Reese of Reese Commercial Realty and Jerry Avery of HSMB represented the seller, Southwest Hampton Oaks LLC. Avery also represented the Templo Betania.