Texas

TWINROSE DEVELOPMENT CO. BEGINS CONSTRUCTION ON TWO INDUSTRIAL BUILDINGS

by admin May 16, 2008

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.

May 16, 2008

THOMPSON NATIONAL PROPERTIES ACQUIRES CLASS B OFFICE BUILDINGS

by admin May 16, 2008

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.

May 16, 2008

Retail Texas

SCI ACQUIRES DENTON TOWNE CROSSING SHOPPING CENTER

by admin May 16, 2008

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.

May 16, 2008

Office Texas

GRUBB & ELLIS CO. COMPLETES PURCHASE OF CENTERPOINT BUSINESS PARK FACILITY

by admin May 16, 2008

SAN MARCOS, TEXAS — Nelson Investments has sold a 33,600-square-foot Class B office property to 4115 Medical Ltd. The property is located within Centerpoint Business Park at 101 Centerpoint Rd. in San Marcos. Jason Brumm and JJ Williams with Grubb & Ellis represented the buyer in the transaction.

May 16, 2008

Multifamily Texas

LIVE OAK CAPITAL ARRANGES $43.16 MILLION FOR 1,054 APARTMENT UNITS

by admin May 15, 2008

MIDLAND AND LUBBOCK, TEXAS — The Houston office of Live Oak Capital has arranged $43.16 million in permanent loans on four apartment complexes located in Midland and Lubbock. Live Oak’s Jonathan Gilfillan worked on behalf of Haley Associates LP to secure four permanent loans with Column Guaranteed. The communities, which comprise a total of 1,054 units, include Willow Hill Apartments and Meridian Apartments in Lubbock and Polo Park Apartments and Windtree Apartments in Midland.

May 15, 2008

Industrial Texas

ALDI CORP. ACQUIRES 185 ACRES

by admin May 15, 2008

DENTON, TEXAS — Stratford Group has sold 185 acres in Denton to ALDI Corp. for approximately $3.97 million. Tom Smolik of TIG Real Estate Services represented ALDI Corp. in the sale. The buyer plans to construct a 500,000-square-foot distribution center on the site, which is located near the Denton Municipal Airport.

May 15, 2008

Seniors Housing Texas

FORMATION DEVELOPMENT GROUP BREAKS GROUND ON THE SIENNA AT CINCO RANCH

by admin May 15, 2008

KATY, TEXAS — Formation Development Group has broken ground on The Sienna at Cinco Ranch, a luxury senior living project in the Cinco Ranch master-planned community in Katy. The development, which will be complete in the third quarter of 2009, will offer 126 independent living and 32 assisted living rental apartments. The Sienna at Cinco Ranch will feature amenities such as concierge services, multiple dining venues, a wine bar and a terrace club activities room. The project is located at 24001 Cinco Village Center Blvd. next to LaCenterra, a new Main Street-style retail center in Cinco Ranch. Spawglass Construction Corp. of Houston is the general contractor for the project, and architectural services are being provided by Three Architecture of Dallas. The Sienna will be managed by The Arbor Company. Guaranty Bank is providing project debt financing.

May 15, 2008

Mixed-Use Texas

MIDTOWN COMMONS AT CRESTVIEW STATION TOD BREAKS GROUND

by admin May 14, 2008

AUSTIN, TEXAS — Construction is underway on Midtown Commons at Crestview Station, a mixed-use, transit-oriented development (TOD) located in the northwest quadrant of Lamar and Airport boulevards in Austin. The 73-acre site, which will comprise office, retail and a variety of Class A luxury residential units, will be directly adjacent to a Cap Metro commuter rail station that opens this fall. The project’s first phase will be oriented around the transit station and will include 316 residential units, 30,300 square feet of retail space and 30,300 square feet of office space. Additional phases will follow in the near term. Midtown Commons at Crestview Station has received a 3-star rating from ENERGY STAR, a program of the U.S. Environmental Protection Agency and the U.S. Department of Energy. USAA Real Estate Co. is the capital partner on the project. High Street Residential, Trammell Crow Co.’s wholly owned subsidiary, is the developer.

May 14, 2008

Multifamily Texas

JOHNSON CAPITAL ARRANGES $41 MILLION FOR 600-UNIT APARTMENT COMPLEX

by admin May 14, 2008

COPPELL, TEXAS — Martin Fayer of Johnson Capital’s Washington, D.C., office has arranged approximately $40.98 million in financing for the St. Marin/Karrington Apartments in Coppell. Fayer arranged two separate loans for the apartment owner, Williams Multifamily Realty Advisors. Freddie Mac assumed an existing approximately $31.38 million fixed-rate loan and provided a supplemental fixed-rate loan of $9.6 million. The St. Marin/Kensington Apartments, which is located adjacent to the Riverchase Golf Club and the R.J. Mcinnish Park, consists of 600 units in two buildings. Community amenities include a swimming pool, a fitness center, a putting green and a basketball court.

May 14, 2008

Office Texas

PARTNERSHIP SELLS RIDGLEA BANK BUILDING

by admin May 14, 2008

FORT WORTH, TEXAS — A partnership between Dallas-based Cawley Partners and New York-based Greenstreet Real Estate Partners has sold the Ridglea Bank Building in Fort Worth. The 181,601-square-foot office building, which is located at 6300 Ridglea Place, currently is 98 percent leased. GNL Properties purchased the 12-story tower. The Dallas office of Holliday Fenoglio Fowler (HFF) represented the seller. HFF also arranged acquisition financing for the purchaser through GE Real Estate.

May 14, 2008

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