HOUSTON — NorthMarq Capital has arranged $17.2 million in first mortgage financing on behalf of KC Palms LLC for Palms of Clear Lake, a multifamily property located at 1300 Gemini St. in Houston. Greg Duvall of NorthMarq’s Kansas City regional office arranged the loan for the 240-unit property through the company’s seller/servicer relationship with Freddie Mac.
Texas
SAN ANTONIO — Spartanburg, S.C.-based Tindall Corp. has begun construction on a concrete manufacturing plant located at 2222 W. Malone Ave. in San Antonio. The 114,000-square-foot facility, which will be Tandell’s fifth plant, is scheduled for completion this summer. The $25 million project will house 250 employees upon completion.
HOUSTON — NAI Houston has brokered the sale of an industrial facility located at 8721-A Clay Rd. in Houston for an undisclosed amount. Apoena Corp. purchased the 20,000-square-foot facility from Stonebridge Real Estate Development & Investments. Chris Kugle, Travis Land and John Ferruzzo of NAI Houston represented the buyer in the transaction.
GEORGETOWN, TEXAS — Realty Capital Partners (RCP) has formed a company, RCP Georgetown Mixed-Use Land Ltd., to provide equity capital for the acquisition of approximately 185 acres in Georgetown for future development. Tucson, Ariz.-based Bourn Partners is the other party in the limited partnership, which purchased the land in order to hold, entitle, improve and sell it as mixed-use locations. The purchase price was undisclosed.
VICTORIA, TEXAS — Apartment Realty Advisors (ARA), an Atlanta-based investment advisory brokerage firm, has finalized the sale of Stratford Place Apartments located at 3207 E. Airline in Victoria. Des Moines, Iowa-based BH Equities sold the 110-unit property to Yates Hawaii Inc., a private Houston-based investment group for an undisclosed price. The property, which includes amenities such as covered parking, a swimming pool and laundry facilities, was 95 percent occupied at the time of sale. Jeff Patterson and Jon Boone of ARA’s Austin-based secondary markets team represented the seller in the transaction.
HOUSTON — Live Oak Capital Ltd., a commercial real estate mortgage-banking firm, has arranged permanent financing on behalf of Fidelis Realty Partners Ltd. for a shopping center located at the corner of Kirby Drive and Old Spanish Trail in Houston. The center includes a newly completed Walgreens and a Capitol One among its tenants. Financing was arranged through OneAmerica, which structured a forward commitment for a 10-year term, 30-year amortization loan.
MISSOURI CITY, TEXAS — Holliday Fenoglio Fowler’s (HFF) Houston office has closed the sale of two tracts of undeveloped land located at South Gessner Drive off Highway 90 in Missouri City. The two, 16-acre sites are zoned for industrial use and are part of the 330-acre Beltway Crossing Business Park. Dallas-based Thackeray Partners purchased the land from BC Business Park L.P. for an undisclosed amount. Adam Jackson and Dan Miller of HFF’s Houston office represented the seller in the transaction.
SUNNYVALE, TEXAS — Cottonwood Partners has begun development on Texas Regional Medical Center at Sunnyvale, which will be Sunnyvale’s first hospital. The hospital, which will be located on 29 acres at 231 S. Collins Rd., will span 117,000 square feet and will include 70 beds, 53 medical suites, six operating rooms, an emergency department with six treatment rooms, eight ICU beds and a women's center with labor-and-delivery suites and postpartum rooms. Construction is set to begin this month and is scheduled for completion by spring 2009. Rockwall Hospitals, a Cottonwood Partners affiliate, will manage the hospital upon completion. Arlington, Texas-based Ascension Group Architects designed the hospital and will oversee the construction, and Dallas-based Rogers-O'Brien Constructionis the general contractor for the project. Cottonwood Partners purchased the land from San Antonio-based Rick Sheldon Real Estate for an undisclosed amount. Cottonwood Partners represented itself in the transaction, while Mike Anderson of B.J. Anderson Co. represented the seller.
GARLAND, TEXAS — Henry S. Miller Commercial has brokered the sale of 14.6 acres located at the Firewheel Distribution Center development site at Crist Road and Highway 78 in Garland. Courtland Development Co. purchased the land for future site development. The company is currently developing the 201,000-square-foot Firewheel Distribution Center, which will be ready for initial occupancy this May. Atlas Copco has also leased 13,366 square feet at the property for its drilling solutions facility. Dan Spika and Huntley Luna of Henry S. Miller Commercial represented the seller Atlas Copco in the transaction.
CORPUS CHRISTI, TEXAS — Capmark Finance Inc. has originated $8.7 million in floating rate, interim refinancing for the Courtyard by Marriott located at 5133 Flynn Pkwy. in Corpus Christi. The hotel is a 128,397-square-foot property consisting of 105 guestrooms, a 600-square-foot meeting room and a breakfast area. Chris Clark of Capmark Finance’s McLean, Va., office originated the transaction. Western International Inc sponsored the borrower, CyCC Property L.P.