HOUSTON — Live Oak Capital has arranged a $25.5 million construction loan on behalf of Woodcreek Development Co. for a six-story, 146,238-square-foot office building in Houston. The Reserve at Park Ten is located at the northeast corner of Park Ten Place and Broadfield Boulevard, just north of the Katy Freeway in Houston’s Energy Corridor. Kingharn Dalton is serving as general contractor for the project. Live Oak placed the loan through Houston’s Amegy Bank.
Texas
AUSTIN, TEXAS — Transwestern Realty Finance Partners LLC has closed a $6.5 million mezzanine construction for the development of Residences at Oak Hill. The Class A apartment complex, which is located on U.S. 71 in the Southwest Hills area of Austin, comprises 276 units. McShane Corp. is the project’s sponsor.
AMARILLO, TEXAS — Grubb & Ellis Healthcare REIT has acquired the Amarillo Hospital property, located at 7501 Wallace Blvd. in Amarillo, from an unaffiliated partnership sponsored by Trophy Healthcare Realty LP. The two-story building comprises 65,000 square feet and sits on approximately 4.2 acres. Triumph HealthCare operates the long-term acute care hospital, which is located within a half mile of the Harrington Medical Center.
SAN ANTONIO — Buchanan Street Partners has negotiated a $20.4 million financing package for the development of Stone Oak Centre, an 81,560-square-foot office and retail property in San Antonio. The project, which is located along Stone Oak Parkway, includes five Class A, two-story office buildings and two retail buildings. Buchanan Street Partners structured a $15.5 million construction loan and arranged $4.92 million in equity with third-party investor Ascent Real Estate Advisors. The financing was arranged on behalf of the developer, M.S. Walker & Associates. Construction is slated to begin this summer on Stone Oak Centre, which is expected to be fully leased by January 2009.
HOUSTON — Tracer Construction Co. has purchased a 22,936-square-foot spec manufacturing building, located at 1102 W. Eighth St. in Seaco Business Park in Houston, from Stonebridge Real Estate Development & Investments. Bill Rudolf and Gray Gilbert of CB Richard Ellis represented the buyer. John Ferruzzo, Chris Caudill and Joel Michael of NAI Houston represented the seller.
FORT WORTH, TEXAS — ProLogis plans to develop a new 2.1 million-square-foot, master-planned industrial park in Fort Worth. To be called ProLogis Park Fort Worth, the park will sit on 130 acres at the intersection of Interstate 35 West and Loop 820. The park’s first phase will feature a 525,000-square-foot cross-dock facility, which is scheduled to begin construction in the second half of this year.
PLANO, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has closed the sale of a three-property, 1,043-unit Class A multifamily portfolio located within Legacy Town Center in Plano. UDR Inc. purchased the portfolio, which includes Legacy Village, Lakeside at Legacy Village and Acqua, from GE Asset Management and Columbus Realty Partners Ltd. for an undisclosed amount. Bill Miller and Roberto Casas of HFF led the investment sales team on behalf of the seller.
ROCKWALL, TEXAS — Gensler has designed a Toyota dealership to achieve LEED Gold certification in Rockwall. The 11.25-acre dealership is located at 1250 I-30 East. Beck Construction was the general contractor for the 70,200-square-foot facility.
NEW BRAUNFELS, TEXAS — Chad Ricks of Love Funding has secured $11.2 million in construction financing for La Sierra Apartments, a 152-unit community in New Braunfels. The 135,600-square-foot complex is located less than 1 mile off of Interstate 35. Terms of the deal include a fixed-rate interest of 6.15 percent and a 40-year amortization.
PLANO, TEXAS — Primera Cos. has broken ground on a Class A office building in Legacy Business Park, a master-planned development in Plano. The 99,450-square-foot, three-story office project is located at 5600 Tennyson Pkwy., less than a mile from Legacy Town Center. Myers & Crow Co. is developing the building, which is seeking LEED Silver certification. Gromatzky Dupree & Associates is providing architectural services, and McFadden & Miller is the general contractor. Legacy Texas Bank extended the construction financing. Trevor Franke of Peloton Real Estate Partners is handling leasing. Primera Tennyson Partners owns the project, which is scheduled for completion next March.