SANGER, TEXAS — NorthMarq Capital has arranged approximately $2.2. million in first-mortgage financing for the construction of Sanger Market Place, a 14,000-square-foot retail center located in Sanger. Terms of the loan include a 3-year term with interest-only payments. Stephen Whitehead of NorthMarq’s Dallas office secured the financing for the undisclosed borrower on behalf of Sovereign Bank.
EL PASO, TEXAS — PNC ARCS has provided a $4.29 million loan for the Warren Terrace Apartments in El Paso. The buyer and seller were undisclosed. The loan was fixed at 5.66 percent for a 10-year term with a 30-year amortization. PNC ARCS’ San Francisco office originated the loan through Fannie Mae. The 316-unit property is situated on 10 acres and features two swimming pools, a playground, laundry facilities and storage buildings.
PLANO, TEXAS — Dallas-based Andres Construction Services has completed construction for The Legacy at Willow Bend, a retirement community owned by The Legacy Senior Communities. The property features 103 independent-living apartment homes, 12 independent-living villas, 40 assisted-living apartment homes, 18 memory-support suites and 60 private-skilled healthcare suites. Amenities include a fitness center, an art studio, a salon and spa. The property is situated on 28 acres at Spring Creek Parkway between Preston Road and Ohio Drive.
CHAMBERS COUNTY, TEXAS — Waste Management has acquired a medical waste incinerator from The Commissioner’s Court of Chambers County for $25 million. Built in 2001 for approximately $17.5 million, the 28,000-square-foot facility is the largest in the Southwest. It is situated on 40 acres at 7501 State Highway 65 and can support medical waste, sharps, non-hazardous industrial waste and pharmaceutical, document destruction, illegal drugs, laboratory waste and counterfeit items. Michael Palmer and Bill Boyer of CB Richard Ellis, and Beaumont-based Orgain, Bell and Tucker represented Chambers County in the transaction. Jimmy Kahla of the Chambers County Commissioner’s Court assisted in the solicitation of potential buyers.
GRAND PRAIRIE, TEXAS — CB Richard Ellis (CBRE) has completed the sale of Indigo Pointe Apartments, a 300-unit, luxury multifamily community located at 3033 W. Bardin Rd. in Grand Prairie. Craig LaFollette, Todd Stewart, Todd Marix and Tre Banks of CBRE’s Houston office, along with Mark Stymiest, Bill Baxter and Dirk Goris of the firm’s Dallas office, represented the seller, Indigo Pointe Grand Prairie LP. The buyer, Deerfield, Ill.-based Sherman Residential, provided in-house representation. The acquisition price was not disclosed.
FRISCO, TEXAS — Hartford, Conn.-based The Hartford has signed a 5-year lease for 29,685 square feet of space at Hall Office Park, a 162-acre office campus located in Frisco. The company will occupy the fifth and sixth floors of a newly constructed building located at 3000 Internet Blvd. Terms of the agreement also include building signage. Jean Farris provided in-house representation on behalf of the landlord, locally based Hall Financial Group. The Hartford was represented by Frank Ricca of Jones Lang LaSalle. The lease commences in February 2009.
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.
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.
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.
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.