Texas

RAINIER ARRANGES MEZZANINE LOAN FOR MARKET SQUARE AT UNICORN LAKE

by admin December 5, 2008

DENTON, TEXAS — Dallas-based Rainier Capital Management has arranged $1.1 million in mezzanine financing for Market Square at Unicorn Lake in Denton. The 136-acre mixed-use project consists of more than 200,000 square feet of retail, restaurant, entertainment and office space, as well as Villas at Tuscan Hills, a 106-home residential component. A Homewood Suites by Hilton is also under construction at the site. Amenities include an approximately 33-acre greenbelt with Unicorn Lake as the focal point. Proceeds from the loan will be used to complete infrastructure for the final phases of the project. The project is being developed by Shelton Development. Terms of the loan were not disclosed.

December 5, 2008

MCCARTHY SELECTED TO BUILD NEW CITY PERFORMANCE HALL

by admin December 4, 2008

DALLAS — Dallas-based McCarthy Building Cos. has been selected to construct Dallas City Performance Hall, a 124,000-square-foot theater facility located in Dallas’ Arts District. The project will be built in multiple phases; the first phase will consist of 45,000 square feet of the facility. Upon completion, the performance hall will contain a 750-seat theater, two 200-seat flexible theaters, art galleries, a café, a bookstore, an enclosed garden, and educational and meeting spaces. It is applying for LEED-Silver certification, and upon reception of the designation, will be the first LEED-Silver performing arts facility in Texas. Completion is scheduled for 2010. The architect of record is Dallas-based Corgan Associates, and the design firm is Chicago-based Skidmore, Owings & Merrill.

December 4, 2008

Multifamily Texas

HENDRICKS & PARTNERS BROKERS SALE OF PECAN SHADOWS

by admin December 4, 2008

HOUSTON — The Houston office of Hendricks & Partners (H&P) has brokered the sale of Pecan Shadows, a 137-unit apartment community located at 580 W. Parker Rd. in Houston. H&P’s Jeff Eisenhardt represented the seller, Santa Clarita, Calif.-based Pecan Shadows, Ltd. The buyer, The Woodlands, Texas-based West Park 137 LLC, plans to undertake moderate improvements to the property, including the replacement of the roofs and upgrades to unit kitchens. Pecan Shadows is the last in a three-property portfolio that was sold by the California-based parties. The acquisition price was not disclosed.

December 4, 2008

Retail Texas

MARCUS & MILLICHAP ARRANGES SALE OF GEORGETOWN CENTER

by admin December 4, 2008

GEORGETOWN, TEXAS — Marcus & Millichap has arranged the sale of Georgetown Center, a 3,460-square-foot retail center located at 1206 Williams Dr. in Georgetown. Jeff Howard of the firm’s Austin, Texas, office market the property on behalf of the undisclosed seller. The property was purchased by a local investor for an undisclosed amount.

December 4, 2008

Healthcare Texas

RAINIER CAPITAL MANAGEMENT ACQUIRES BAYLOR MEDICAL PLAZA

by admin December 3, 2008

HEATH, TEXAS — Dallas-based Rainier Capital Management has acquired Baylor Medical Plaza, a two-story, 35,485-square-foot ambulatory surgery center and medical office building located in Heath. The property was recently developed and leased by Trammell Crow Co. for affiliates of the Baylor Health Care System and United Surgical Partners International. Richard Cole provided in-house representation for Rainier Capital Management, which acquired the property on behalf of tenant-in-common investors. Rob Jones provided in-house representation for the seller, Trammell Crow Co. The company will continue to lease and manage the property, which was fully occupied at the time of closing. The acquisition price was not disclosed.

December 3, 2008

Retail Texas

COLLIERS BROKERS SALE OF SCHERTZ RETAIL PLAZA

by admin December 3, 2008

SCHERTZ, TEXAS — The Houston office of Colliers International has brokered the sale of Schertz Retail Plaza, a 19,681-square-foot retail property located in Schertz. Situated on 2.25 acres at 6000-6008 FM 3009, near Interstate 35 and the intersection entrance to a Wal-Mart Supercenter, the property was constructed in 2006. It was 93 percent occupied at the time of closing by a tenant roster that includes JPMorgan Chase, TriCounty Dental, D Wine Spirits, Great Clips, GameStop, Ace Cash, EmbroidMe and Touchtel Wireless. Christopher Winters of Colliers represented the seller, SDI Realty. The property was purchased by New Mexico-based Schertz Retail Plaza LLC in a 1031 exchange. The acquisition price was not disclosed.

December 3, 2008

Office Texas

REALTY CAPITAL CORP. SELLS THIRD OFFICE BUILDING

by admin December 3, 2008

ROCKWALL, TEXAS — Colleyville, Texas-based Realty Capital Corp. has sold the third building at The Offices at Horizon Ridge, an office park catering to medical users that is located on Arista Road in Rockwall, near the new Presbyterian Hospital. The 4,130-square-foot property was acquired by Rita Ne, who will use the space as the new home of Rockwall Endodontics. It will mark Dr. Ne’s third endodontics practice. The acquisition price was not disclosed.

December 3, 2008

Industrial Texas

BIOFUELS POWER CORP. TO PURCHASE POWER PLANT

by admin December 2, 2008

HOUSTON — The Woodlands, Texas-based Biofuels Power Corp. has agreed to purchase the decommissioned H.O. Clarke Electric Generating Station, located at the intersection of Main Street and Hiram Clarke Road in Houston. The acquisition will include the 79-acre site, as well as all of the remaining infrastructure and equipment, which includes 65,000 barrels of aboveground storage tanks and a high-pressure natural gas pipeline that is connected to the distribution system. The power station, which was constructed in the 1940s, was decommissioned in 2004. At the time, the station’s gas-fired turbines were also removed. Biofuels Power Corp. plans to redevelop the site into a clean energy industrial park that will provide power to tenants by way of biofuels, biomass, natural gas, biogas and solar energy. The deal is expected to close by the end of the year. The construction timetable for the redevelopment was not disclosed.

December 2, 2008

Multifamily Texas

MARCUS & MILLICHAP COMPLETES SALE OF PORTOFINO APARTMENTS

by admin December 2, 2008

HOUSTON — Marcus & Millichap has completed the sale of Portofino Apartments, a 60-unit multifamily property located at 140 Surf Ct. in Houston. The vacant property totals 44,840 square feet and was constructed in 1963. Robert Su of Marcus & Millichap’s Houston office represented the seller, a financial institution. Su also represented the buyer, a private investor. The acquisition price was not disclosed.

December 2, 2008

Multifamily Texas

BMC CAPITAL SECURES $2.91 MILLION MULTIFAMILY LOAN

by admin December 2, 2008

HOUSTON — Dallas-based BMC Capital has secured a $2.91 million loan for the refinancing of a Houston multifamily community. The property, Spring Village Apartments, totals 132 units and is located at 11810 Chimney Rock Rd. The lender and the borrower were undisclosed.

December 2, 2008

Newer Posts

Older Posts