MCKINNEY, TEXAS — Eldorado Office Park LLC has purchased a medical office building located at 6717 Eldorado Pkwy. in McKinney. Eldorado Land Company LP sold the 10,076-square-foot property. Henry S. Miller Commercial represented the buyer in the transaction, and Ray Eckenrode of Appian Commercial represented the seller.
Texas
SAN ANTONIO — Hendricks & Partners has finalized the sale of Spice Creek Apartments, a 192-unit property located at 8802 Cinnamon Creek Dr. in San Antonio. Golden Valley, Minn.-based MHC Spice Creek Partners LP sold the apartment complex to Mascoutah, Ill.-based Chadric Spice Creek LLC. The sale price was undisclosed. Mike Miller of Hendricks & Partners’ San Antonio office and Chip Nash of the company’s Houston office represented the seller in the transaction.
BROWNSVILLE, TEXAS — Green Park Financial has provided a $10.08 million acquisition loan for La Mansion del Paseo apartments in Brownsville. Details of the loan include a 7-year term, 3 years of interest only followed by a 30-year amortization. La Mansion del Paseo features 168 units in 14 two-story buildings with a mix of one-, two- and three-bedroom units. The Class B property is situated on 10.28 acres and is 97 percent leased. Jason Rice of Quantum First Capital originated the loan and Andrew Tapley led the Green Park Financial team.
DALLAS — California-based Nottinghill Gate has acquired Hillside Apartments in Dallas from an Irving, Texas-based private seller. The nine-building property features 118 one-bedroom units and 66 two-bedroom units. Located at 2910 Prichard Ln., the property is situated on 6.33 acres and is 92 percent leased. Heather Konopka of Hurst, Texas-based Sperry Van Ness/Konopka and Company represented the seller in the transaction. The acquisition price was undisclosed.
TEXAS AND GEORGIA — Palm Beach Gardens, Fla.-based Ram Realty Services has acquired six Home Depot Landscape Supply stores in the Dallas area and five in the Atlanta area for $22 million. The sites range in size from 4.5 to 9 acres and each store features approximately 12,000 square feet. The Dallas area locations are: 2460 Highway 121 in Plano, Texas; 5721 Bryant Irvin Rd. in Fort Worth, Texas; 5301 South Cooper in Arlington, Texas; 2945 Frankford Rd. in North Dallas, Texas; 4120 William D. Tate Ave. in Grapevine, Texas; and 2620 MacArthur Blvd. in Lewisville, Texas. The buyer was represented by Ken Baye and The Home Depot was represented by Mike Folio of Corporate Property Dispositions.
ALLEN, TEXAS — Cadence McShane Corp. has been selected by Dallas-based developer The MGHerring Group to construct the first phase of The Village at Allen, a mixed-use project located at the southeast corner of U.S. Highway 75 and Stacy Road in Allen. The 900,000-square-foot project will feature retail, restaurants, a 7,500-seat event center and a 250-room hotel and convention center. Cadence McShane will build the initial phase of the project, a five-building retail site totaling 153,014 square feet situated within the 168-acre site. Architecture+ will be the architect for the project, which is scheduled for completion in early 2009.
KILLEEN, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged a $3 million equity joint venture for the construction of Creekside Manor Seniors Housing Complex in Killeen. The property, which will be located within the Highway 190 Corridor, will house 13 single-story units per acre. Construction will also include a 7,000-square-foot amenity center featuring an exercise room, a swimming pool, a spa, a hair salon, a health center, a business center, a kitchen/dining area and a movie theater. The borrower was undisclosed.
HOUSTON — INVESCO has leased a total of 472,601 square feet of space to Exel Inc. in Houston. The transaction comprised 217,836 square feet at 8711 City Park Loop and 254,765 square feet at 8833 City Park Loop. Edward Bane of Holt Lunsford Commercial represented INVESCO, and Sam Brown of Sam H. Brown Inc. represented Exel Inc. in the lease transactions.
HOUSTON — Apartment Realty Advisors (ARA), an Atlanta-based investment advisory brokerage firm, has brokered the sale of Bayou Park, an apartment property located at 4400 Memorial Dr. in Houston. The property, which includes 688 residential units and 6,320 square feet of retail space, encompasses 15 acres in Houston’s central business district. Webster, Texas-based Venterra sold the property for an undisclosed amount to Boston-based Berkshire Property Advisors. David Wylie, Matt Rotan, David Mitchell, David Oelfke and Tim Dosch of ARA represented the seller in the transaction.
AUSTIN, TEXAS — Houston-based PM Realty Group (PMRG) has recently completed the sale of the Highland Commons Shopping Center located at 5775 Airport Blvd. in Austin. Tenants at the 39,818-square-foot property include Spec’s Wine Spirits and Finer Food, EyeMart and Advance America-Cash Advance. Bernard McAuley and Brandon Beeson of PMRG’s Dallas office brokered the transaction.