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.
FORT WORTH, TEXAS — Jones Lang LaSalle (JLL) Hotels has completed the sale of the Radisson Fort Worth South on behalf of Allegiance Hospitality. Chhatrala Hotels purchased the six-story property, which comprises 247 guestrooms, an indoor pool, a fitness center, a business center, a restaurant and 11,000 square feet of meeting space.
CORPUS CHRISTI, TEXAS — Sperry Van Ness has closed the sale of a single-tenant, NNN-leased retail property in Corpus Christi. Santa Clarita, Calif.-based NORSAN LLC purchased the space, which is fully occupied by Gold’s Gym, from Irving, Texas-based TRT Holdings for $8.3 million. Polly Johnson of Sperry Van Ness represented the buyer, which participated in a 1031 exchange. Ryan Carter and Tim Schenk of Stan Johnson Co. represented the seller. The retail property, which was built in 2007, spans 47,395 square feet and sits on 4.7 acres of land.
DALLAS/FORT WORTH, TEXAS — BH Properties has acquired nine office and retail properties in the Dallas/Fort Worth area from Puget of Texas for approximately $22 million. The portfolio, which totals 600,000 square feet, includes Midway Business Park and Cadiz Plaza in Dallas; the Comerica Building in Richardson, Texas; Polo Village in Grand Prairie, Texas; Walnut Plaza in Mansfield, Texas; Finley Plaza in Irving, Texas; Fairmeadows S/C in Duncanville, Texas; Metro Center in Euless, Texas; and Monterey Village in Bedford, Texas.
HOUSTON — The Shaw Group Inc. has renewed and expanded a lease for 312,564 square feet of office space at 1430 Enclave Pkwy. in Houston. The tenant expanded its lease by more than 106,516 square feet at the six-story, Class A office building, which is located within the Enclave Office Park. Eric Anderson and David Baker of Transwestern represented the landlord, Piedmont Office Realty Trust, in the negotiations. Bill Bosack and Wendi Little of GFM Real Estate represented the tenant.
HOUSTON — The Houston office of Holliday Fenoglio Fowler (HFF) has closed the sale of 675 Bering Dr., a 135,680-square-foot office building in Houston. The transaction included a six-level, 386-space parking garage. Dan Miller and Marty Hogan of HFF led the investment sales team on behalf of the seller, Goddar Investment Group. Griffin Partners 675 Bering LP acquired the property for an undisclosed amount. The eight-story office building is 70.2 percent leased to tenants such as First Investors, Foster & Associates and Café Express.
IRVING, TEXAS — Twinrose Development Co., on behalf of Twinrose Regent, has begun construction on two industrial buildings at Dallas/Fort Worth International Airport’s International Commerce Park in Irving. Twinrose Regent I, which is located at 2611 Regent Blvd., will comprise 265,500 square feet and feature a 30-foot clear height. Located at 2555 Regent Blvd., Twinrose Regent II will consist of 60,000 square feet and have a 24-foot clear height. The two buildings are scheduled for occupancy in December. Hillcrest Bank provided the construction loan for the Twinrose Regent project; Halff Associates is providing architectural services; and Bob Moore Construction is the general contractor.
DALLAS — Thompson National Properties has acquired Oakwood Tower and One Lee Park West in Dallas on behalf of the Bruin Fund. The two Class B, value-added office properties, which are located in the Uptown/Turtle Creek submarket, total 118,370 square feet. Cohen Financial arranged the financing with Grandbridge Real Estate Capital.
DENTON, TEXAS — SCI Real Estate Investments has acquired Denton Towne Crossing, a 36,780-square-foot retail center in Denton, from Weber & Co. Tenants at the center, which is located at the intersection of Loop 288 and Brinker Road, include Verizon Wireless, Men’s Warehouse, Supercuts, Payless ShoeSource, Pei Wei restaurant and McAlister’s Deli. The property is shadow-anchored by Target and The Home Depot. SCI was represented in-house by Scott Derrick and Phillip Duke. Ken Shulman of The Staubach Company represented Weber & Co.