DALLAS — A Concierge Asset Management-sponsored buyer has completed the purchase of the Honey Creek Apartment complex located at the intersection of Interstate 635 and Ferguson Road in Dallas. The 656-unit, class-B multifamily property was built in 1984 and includes 37 three-story buildings, three pools and four tennis courts. The buyer’s renovation plans for the property include upgrading the clubroom, adding three new gas grills and new pool furniture. Jenny Gillaspy of Concierge Asset Management represented the buyer, and Paul Harris of Moran & Co.’s Dallas office represented the undisclosed seller in the transaction
Texas
RICHARDSON, TEXAS — Texas-based McCarthy Building Cos. has begun construction on the $149 million office complex that will serve as Blue Cross Blue Shield of Texas’ headquarters in Richardson. The project is being developed by KDC. The 1.05 million-square-foot office complex, which is located on 34 acres in the Gatalyn Park area, will include a 15- and seven-story office tower and a 3,500 car parking structure. The project is scheduled for completion in the fourth quarter of 2009.
FORT WORTH, TEXAS — Eagle Mountain Saginaw Independent School District has completed the purchase of 160 acres within the master-planned community of Chapel Hill located in north Fort Worth. The district will use the land to build a new high school, middle school, bus terminal and maintenance facility. The high school and middle school both will be located on 130 acres at the intersection of Bonds Ranch Road and the future extension of Boat Club Road, while the bus terminal and maintenance facility will be located on 30 acres two miles south of Bonds Ranch Road. There is no timetable yet set for the project’s completion.
FORT WORTH, TEXAS — National Oilwell Varco, an oil field services component manufacturer, has completed the purchase of 340,000 square feet of industrial space located at 1010-1100 Everman Pkwy. in Fort Worth. The multiple buildings, which were sold by Raleigh, NC-based Cherokee Fund, are located on 25 acres. Walter Floyd of NAI Huff Partners represented the buyer, and John Brewer and Greg Trout of Henry S. Miller Commercial represented the seller.
AUSTIN, TEXAS — Q10 | Dwyer-Curlett’s Orange County, California office has arranged $11.3 million in financing through GE Real Estate Business Property for an Austin industrial building. The property, which houses a cold storage warehouse and distribution center, is located on 15.41 acres with 131,000 square feet of rentable space. Thomas Kenny of Q10 | Dwyer-Curlett’s Orange County office arranged the loan.
CROCKETT, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged a $2.32 million acquisition loan for Crockett Shopping Center in Crockett. The 58,050-square-foot retail center, which is located at 1007 E Loop 304, includes Dollar General Martin Home Center, Baskin’s China Buffet, Donut Shop, Tire Max, HEB Gas and Goodwill amongst its tenants.
SAN ANTONIO — Hendricks & Partners’ San Antonio office has completed the sale of Summer Place, a multifamily property located at 1474 Hillcrest Dr. in San Antonio. Local investors sold the 159-unit apartment complex to an investment group from Miami. The sale price was undisclosed. Mike Miller and Chris Ross of Hendricks & Partners’ San Antonio office represented the seller in the transaction.
DALLAS — Metropolitan Capital Advisors, a Dallas-based financial firm, has arranged a $7.85 million permanent fixed-rate loan for Henderson Commons Collection of Shops located on Henderson Avenue in the Red Hot Knox and Henderson Market areas of Dallas. The funds will be used for undisclosed renovations on the property, which was first constructed in the 1920s. Scott Lynn of Metropolitan Capital Advisors arranged the loan.
COLLEYVILLE, TEXAS — Realty Capital Corp. (RCC) has completed the sale of a 4,415-square-foot office building located in Heritage Glade Office Park in Colleyville to a local doctor. The building, located at the intersection of Highway 121 and Glade Road, is part of the park’s four-building first phase. Phase II of the project, which will add 4,400 square feet, is scheduled to begin in March. Jobi Decker of RCC represented the seller, RCC Heritage Glade, in the transaction.
SUGAR LAND, TEXAS — Colliers International’s Houston office has finalized the sale of a 53,096-square-foot office building located at 13000 Executive Dr. in Sugar Land. The building, which was built in 1995, is entirely occupied by GE Energy Group. GSL Fund 21 Sub D purchased the 5.11-acre property. Christopher Winters, Robert Parsley and Jay Kyle of Colliers International’s Houston office represented the undisclosed seller. John Wilson of GSL Industrial management represented the buyer in the transaction.