GLEN ROSE, TEXAS — Fort Worth, Texas-based Speed Fab-Crete has completed renovations and additions to First United Methodist Church in Glen Rose. Construction included the repair and protection of numerous stained glass windows, as well as the addition of 10 new stained glass windows. The second floor of the sanctuary was removed to create a more spacious area, and the sanctuary’s seating capacity was expanded to 317 people. Another existing building was converted into a fellowship hall with classrooms and restrooms. Finally, building improvements were made, including the replacement of the HVAC system, the replacement of the roof, the enhancement of the buildings audio-visual capabilities and an upgrade to the lighting system. The project architect was Fort Worth-based Callahan & Freeman Architects. First United Methodist Church was first constructed in 1885. The existing sanctuary was built in 1916.
KERMIT, TEXAS — Construction is complete for the new Winkler County Memorial Hospital, located in Kermit. The approximately $13.2 million project included the construction of a new hospital on top of the original hospital, which was constructed in the late 1940s. The new 34,000-square-foot hospital includes 27,400 square feet of new space and 6,600 square feet of renovated space from the original hospital. The facility includes an 10 patient rooms, comprising nine semi-private rooms and one isolation room, as well as an emergency department. The renovated space will be used for support functions such as administration, maintenance and physical therapy. The project was designed by Arlington, Texas-based Ascension Group Architects and constructed by Dallas-based Skiles Group. The Brentwood, Tenn., and Louisville,, Ky., offices of Parsons served as program manager for Winkler County.
AUSTIN, TEXAS — Houston-based Live Oak Capital has brokered the sale of The Robertson Hill Apartments, a 290-unit multifamily property located in Austin. The Class A apartment community was developed by Houston-based Martin Fein Interests and was completed this year. It is situated just east of Austin’s central business district, between East Ninth Street and East 11th Street. Hal Holliday and David Aaronson of Live Oak represented the seller, Houston-based Robertson Hill Apartments LP. The property was acquired by an undisclosed institutional investor.
DUNCANVILLE, TEXAS — Marcus & Millichap has completed the sale of Wexford Townhomes, a 122-unit townhome community located at 600 Wembley Circle in Duncanville. Occupancy for the property was approximately 95 percent at the time of closing. Al Silva of Marcus & Millichap’s Fort Worth, Texas, office and Kelley Sparkman of the firm’s Dallas office represented the seller, a Florida-based private investment group. The buyer, an out-of-state private investor, purchased Wexford Townhomes to satisfy a 1031 exchange and assumed an interest-only loan for the property that carries a 6.18 percent interest rate. The acquisition price was not disclosed.
FORT WORTH, TEXAS — The Dallas office of PNC ARCS has secured a $2.7 million loan for Willow Glen Apartments, a 168-unit multifamily community located in Fort Worth. The community is situated on more than 7 acres; amenities include a clubhouse, a swimming pool, a Jacuzzi, two laundry facilities and a playground. The loan carries a 10-year term, a 30-year amortization schedule and a 6 percent fixed interest rate. The lender was Fannie Mae; the borrower was undisclosed.
TULSA, OKLA. — Marcus & Millichap has brokered the sale of a 13,650-square-foot Walgreens pharmacy, located at 10018 S. Yale Ave. in Tulsa, for $3.9 million. The pharmacy is situated on 1.74 acres in the city’s South Tulsa submarket; it was constructed in 2003. David Bohanon and Philip Bohanon of Marcus & Millichap’s Oklahoma City office, along with Tina Taylor of the firm’s Las Vegas office, represented the seller, an undisclosed limited liability company. The buyer, also a limited liability company, was represented by Mark Thiel of Marcus & Millichap’s San Diego office.
HOUSTON — Houston-based Live Oak Capital has arranged an approximately $8.5 million, fixed-rate loan for the refinancing of Central City, a 66-acre industrial park located at 5301 Polk St. in Houston. The multi-tenant property comprises 20 buildings ranging in size from 5,000 to 138,000 square feet. The park totals approximately 1 million square feet and was 92 percent occupied at the time of closing. Rob LaRue of Live Oak arranged the financing between the borrower, locally based Pelec Central City, Ltd., and the borrower, Ohio National Life Insurance Co.
ALLEN, TEXAS — Jones Lang LaSalle (JLL) has arranged a 292,700-square-foot office lease renewal for Experian Credit Reporting Agency at 601 and 701 Experian Pkwy. in Allen. Larry Toon, Wade Clark, Ronda Clark and Bo Bond of JLL represented the tenant in lease negotiations. The landlord is Lexington Realty Trust. Terms of the lease were not disclosed.
HOUSTON, DALLAS AND PLANO, TEXAS — KeyBank Real Estate Capital has arranged $52.6 million in financing for four Texas multifamily properties. KeyBank secured $50 million in Freddie Mac ARM loans for three of the apartment communities. In Houston, $22 million was provided to Pearland Apartments, Ltd. for the 292-unit Cobblestone Park Apartments. In Dallas, $16 million was provided to FCLC Dallas for the 244-unit Hidden Creek Apartments. In Plano, $12 million was provided to Bristlecone Texas, Ltd. for the 268-unit Cottages at Tulane. Additionally, KeyBank secured $2.6 million in Fannie Mae Refinance Tier 2++ funding for Gaston and Junius Apartments, a 47-unit community located in Dallas. The borrower is Power Investments Inc.
HOUSTON — Groundbreaking has occurred for Washington Centre, an approximately 50,000-square-foot, multi-use development located in the Washington Avenue district of Houston. The three-story project will include ground-floor retail space, with offices on the second and third floors. Approximately 45 percent of the space at Washington Centre has been pre-leased, including a law firm that will be relocating from Houston’s central business district to a full floor of the building. The project is being developed by locally based Senterra Real Estate Group. Locally based Hermes Architects is providing design services, and Gamma Construction is serving as general contractor. Completion is scheduled for early fall 2009.