TULSA, OKLA. — Harbor Group International has acquired a $31.5 million tranche of debt from JPMorgan Chase Bank. The debt is secured by One and Two Warren Place, two office towers located in the Yale Corridor of Tulsa. One Warren Place is a 20-story tower than contains 469,907 rentable square feet, and is currently 85 percent occupied. Two Warren Place is a 19-story tower that contains 485,576 square feet, and is 94 percent occupied. Harbor Group International acquired the loans through its HGI Debt Opportunity Fund.
Texas
KELLER AND WICHITA FALLS, TEXAS — Grubb & Ellis Healthcare REIT has acquired Medical Portfolio 2, a five-building medical portfolio located in Missouri and Texas. Two of the five buildings are located in Texas: 180 Bear Creek Pkwy. is an 11,000-square-foot surgery center located in Keller. The single-story building is fully leased to Lonestar Endoscopy. The other property, which is located at 1722 Ninth St. in Wichita Falls, is a two-story neurosurgery and imaging building. It contains approximately 25,000 square feet of leaseable space, and is equipped to accommodate a variety of neurodiagnostic studies. The property is fully occupied by North Texas Neurology Associates. The three Missouri properties total 136,200 square feet and are located in O’Fallon and St. Louis. Grubb & Ellis acquired the portfolio from affiliated entities of The Cirrus Group, which was represented by James Moloney of Cain Brothers & Co. The acquisition price was not disclosed.
KELLER, TEXAS — Sperry Van Ness (SVN) has brokered the sale of a church and 9.78 acres of land to the Forth Worth Catholic Diocese for $2.4 million. The church, which is located at 2040 and 2050 Willis Lane in Keller, consists of a one-building complex that totals 21,000 square feet. It is currently leased to Milestone Church. Heather Konopka of Hurst, Texas-based SVN/Konopka & Co. represented the seller, North Richland Hills, Texas-based Life Church. The buyer was represented by J.C. Burciaga of JCB Unlimited.
FORT WORTH, TEXAS — Dallas-based Quantum First Capital (QFC) secured $6.55 million in financing for Woodridge Apartments, a 248-unit multifamily property located at 500 East Loop 820 in Fort Worth. Situated on 10.38 acres, the community comprises 17 buildings with a mix of one-, two- and three-bedroom units. Property amenities include a clubhouse, a swimming pool, a courtyard, a laundry center, courtesy patrol and covered parking. Eli Gershenson of QFC originated the financing on behalf of a Texas limited partnership. The loan carries a 7-year term with 2 years interest-only, followed by a 30-year amortization schedule. It also has a sub-6 percent interest rate. The loan was funded by Green Park Financial through the Fannie Mae DUS program.
ADDISON, TEXAS — CB Richard Ellis (CBRE) Investors has acquired The Colonnade, an approximately 1 million-square-foot, three-building office property located in Addison. The three buildings, named Colonnade I, II and III, are located at 15301-15305 N. Dallas Pkwy; they range from 12 to 16 stories and are connected by a three-story, vaulted glass atrium. Occupancy is at 75 percent. CBRE Investors is pursuing LEED certification for the property, as it is for all of its other Dallas-area properties. The acquisition price was not disclosed.
TEXARKANA, TEXAS — The Cirrus Group has acquired a 31,600-square-foot medical office building located at 1902 Moores Lane in Texarkana. The building is situated on two acres near the campus of Christus St. Michael’s Health System. The property will be leased to Collom & Carney Clinic Association and Northeast Texas Surgery Center. The seller and the acquisition price were undisclosed.
SAN ANTONIO — Marcus & Millichap has arranged the sale of a 62-room Super 8 Motel located at 5336 Wurzback Rd. in San Antonio. Alan Miller of Marcus & Millichap’s Austin, Texas, office, along with Michael Yu and Rahul Bijlani of the firm’s Houston office, represented the seller, a Texas-based partnership. Miller also secured the West Texas-based buyer. The acquisition price was not disclosed.
THE WOODLANDS, TEXAS — Wachovia Bank N.A. has provided $23.53 million in construction financing for Sierra Pines, a 180,000-square-foot, speculative office building located in The Woodlands. Situated on 35.5 acres at 1601 Sawdust Rd., the Class A office building is scheduled for completion in January 2009. It is the first phase of a three-building, 540,000-square-foot office development. Holliday Fenoglio Fowler’s Matt Kafka and Adam Jackson originated the loan on behalf of Stream Realty Partners LP. The property is leasing at a rate of $18 per square foot triple-net.
SAN ANTONIO — Corporate Office Properties Trust (COPT) has acquired three office buildings for a total of $40.5 million. Two of the buildings are located in San Antonio; known as 151 Technology Center, the buildings were acquired for $17.3 million. The two-story buildings are located at 1560 Cable Ranch Rd. and total 122,975 square feet. Both are fully occupied, with prominent tenants including Sears, Air Force Federal Credit Union and AFNI. The third building in the transaction, the 124,305-square-foot Cresterra building located in Colorado Springs, Colo., was acquired for $23.2 million. COPT’s San Antonio portfolio now consists of four office buildings totaling 601,000 square feet; two office buildings currently under construction that total 91,000 square feet; and 58 acres of land that can support approximately 725,000 square feet of development.
THE WOODLANDS, TEXAS — A partnership led by Fort Worth, Texas-based Trademark Property Co. has acquired a 50 percent interest in Market Street – The Woodlands, a 560,000-square-foot mixed-use development located in The Woodlands, from Kimco Developers. Trademark is the developer of the project, as well as the owner of the other 50 percent interest in the property. The partnership that purchased the interest comprises Trademark, private investors and Institutional Mall Investors LLC, an institutional investment entity owned by California Public Employee’s Retirement System and an affiliate of Miller Capital Advisory. Market Street – The Woodlands is located within the urban core of The Woodlands master-planned development. It comprises 400,000 square feet of retail space, 100,000 square feet of Class A office space and a soon-to-be-completed AVIA boutique hotel.