SAN ANTONIO — Marcus & Millichap has completed the sale of Comfort Suites located at 11526 Interstate Hwy. 35 N. in San Antonio. Both the buyer and seller in the transaction were undisclosed. The 57-room hotel was opened in December 2007. Allan Miller marketed the property on behalf of the seller, and Michael Yu of Marcus & Millichap Houston office represented the buyer.
BEAUMONT, TEXAS — Green Park Financial has provided an approximately $4.26 million acquisition loan for Autumn Cove Apartments located at 3190 Eastex Fwy. in Beaumont. The property, which was built in 1983 and was 80 percent leased at closing, is a two-story complex with 152 units. Jason Rice of Quantum First Capital originated the loan.
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FORT WORTH, TEXAS — LNR Property Corp.’s Commercial Property Group, the company’s real estate development and investment division, has purchased Phase II of The Presidio, a mixed-use development in Fort Worth. Phase II, located at the intersection of Interstate 35 West and U.S. Highway 287, will consist of 135 acres of retail, office and other commercial space. LNR Property Corp. acquired Phase I of The Presidio in November 2007. The total mixed-use development area will comprise more than 300 acres, with construction on the site scheduled to begin this month.
LEWISVILLE, TEXAS — Wrightwood Capital has provided $21.65 million in financing for the acquisition of Mira Vista Ranch apartments located at 350 Continental Dr. in Lewisville. The 304-unit property, built in 2004 and originally named Villas of Highpoints Apartments, comprises 11 buildings on 13 acres. Amenities include a swimming pool, hot tub, recreation room and business center. Anthony Waiss, a Texas-based multifamily property owner and manager, plans to renovate Mira Vista Ranch. The financing was sourced through Paul Brighton of NorthMarq Capital.