DALLAS — Los Angeles-based Post Investment Group has directed the acquisition of a two-property, 952-unit multifamily portfolio in Dallas. The garden-style, Class B properties were acquired on behalf of one of Post’s institutional investors, Lagovent Real Estate Group. The portfolio includes the 440-unit Wimberley Park and the 512-unit Camelot Village. First mortgage financing was arranged by Wachovia’s Fannie Mae DUS.
TULSA, OKLA. — Tulsa-based Stan Johnson Co. has completed the sale of a 14-property portfolio comprising more than 900,000 square feet. The portfolio, which includes retail, office and industrial properties in nine states, sold for $123 million. Gill Warner and Craig Kenney of Stan Johnson Co. represented the buyer, Cole Cos., in the transaction. Mark Allison at Investors Real Estate Agency represented the undisclosed seller. The portfolio included one retail and one office property in Texas.
DALLAS/FORT WORTH, TEXAS — GE Real Estate has provided a $21 million loan to Dana Point, Calif.-based Optivest Properties for the acquisition of five self-storage facilities in the Dallas/Fort Worth Metroplex. The Class A and B properties comprise 2,663 units in the cities of Allen, Murphy, Forney, Terrell and Grand Prairie. Chuck Mills of CEM Capital was the mortgage banker for the transaction, which was the first between GE and Optivest Properties.
CORPUS CHRISTI, TEXAS — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged $7.21 million in refinancing for Town & Country Shopping Center in Corpus Christi. The 94,736-square-foot retail center, which was renovated in 2007, is 62 percent leased to tenants such as TCBY, Subway, Schlotzsky’s Deli and Hollywood Video. The property sits on a 6.2-acre site at 4250 S. Alameda St. Tucker Knight and Steve Gautier of HFF worked on behalf of the borrower, Fowler Property Acquisitions, to secure the loan through The Mission Bank.
LUBBOCK, TEXAS — Vienna, Va.-based Molinaro Koger (MK) has facilitated the sale of a Residence Inn by Marriott in Lubbock. Lion ES Hotels II LLC sold the 80-suite, extended-stay property to SA Laredo Enterprises Inc., which has obtained a long-term franchise agreement with Marriott International to continue operating the hotel as a Residence Inn. Greenbelt, Md.-based Baywood Hotels has assumed management of the hotel. Andy Kern of MK’s headquarters office represented the seller in the transaction.
HOUSTON — Hines REIT has acquired Williams Tower, a 64-story office building located at 2800 Post Oak Blvd. in Uptown Houston. Amenities at the 1.5-million-square-foot tower include a retail bank and ATM in the lobby; a conference center; a lobby-level art gallery; a sundry shop; a drycleaners; a deli; and a coffee bar. Transcontinental Gas Pipe Line Corp., Black Box Network Services; Hines and Hines REIT (corporate headquarters); Rowan Cos.; Van Kampen Investments; Citicorp North America; CBRE Melody of Texas; Wachovia Bank; and Williams Field Services Co. are a few of the major tenants at the 94 percent-leased building. Cushman & Wakefield represented the seller, Transco Tower Ltd., in the transaction, which also included an undivided interest in the adjacent 2.8-acre Waterwall Park and another 2.3-acre undeveloped land parcel across the street. Hines developed Williams Tower, and has managed and leased the building since its completion in 1982.
HOUSTON — First Industrial Realty Trust has sold a 191,537-square-foot industrial building to TA Associates Realty. The facility is located at 8705 City Park Loop East in Houston. Doug Nicholson and John Nicholson of Grubb & Ellis Co. represented the seller.
CORPUS CHRISTI, TEXAS — Josh Gaines of NAI Cravey Real Estate Services has represented both the buyer and the seller in a two-building transaction in Corpus Christi. The sale included a 12,500-square-foot office/warehouse building and a 10,250-square-foot retail building located on 5.35 acres at 585 South Padre Island Dr. RSC Equipment Rentals currently occupies the space. Both the buyer and the seller were private investors.
DALLAS — Trammell Crow Company (TCC) has broken ground on an 887,810-square-foot speculative industrial facility in Dallas. Located at the crossroads of Interstates 20 and 35, the building is expected to be complete by the fourth quarter of this year. The facility, which is Phase II of a 100-acre distribution park, sits on 55 acres. CB Richard Ellis is handling the leasing and marketing of the property.
FORT WORTH, TEXAS, AND RALEIGH, N.C. — Capmark Finance has originated $42.1 million in fixed-rate, permanent financing for the acquisition of two multifamily properties. The first, Enclave on Golden Triangle, spans 273 units at 5001 Golden Triangle Blvd. in Fort Worth. The property, which was built in 2007, comprises 29 two-story buildings. The second property, Six Forks Station, is located in Raleigh. Grubb & Ellis Investors was the borrower in both transactions.