DALLAS — Marcus & Millichap has brokered the sale of Mountain Valley, a 312-unit apartment community in West Dallas. Built in 1969, the property primarily offers two- and three-bedroom units with an average size of 969 square feet. Amenities include a playground, basketball court and a pet park. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
CYPRESS, TEXAS — MedCore Partners and ACRON USA have broken ground on Phase II of Spring Cypress Senior Living, located on the northwestern outskirts of Houston. The project will add 138 active adult and independent living units, as well as 12 memory care units, to the local supply. Phase I of Spring Cypress Senior Living, which was co-developed with Houston-based National Realty Group, opened in 2018 and offers 80 units of assisted living and memory care. Integral Senior Living will operate the property upon completion.
ARLINGTON, TEXAS — Aloft Hotels, which is part of the Marriott Bonvoy family of brands, has opened an 124-room hotel in Arlington. Aloft Dallas Arlington is a pet-friendly establishment that offers an onsite restaurant and bar, grab-and-go food options, a lounge with billiards and live music, an outdoor pool, fitness center and 750 square feet of meeting and event space. Locally based firm Stonewood Hotels owns and manages the property.
FORT WORTH, TEXAS — Locally based investment firm CanTex Capital has acquired a 38,496-square-foot industrial building located at 2415 Cold Springs Road in Fort Worth. The property sits on 4.6 acres and offers proximity to Interstates 35 and 30, as well as State Highway 183. Todd Hubbard of NAI Robert Lynn brokered the off-market deal. The seller and sales price were not disclosed.
CARROLLTON, TEXAS — Archer Western Herzog, which is a joint venture between construction companies Archer Western Construction and Herzog Contracting Corp., has signed a 23,470-square-foot office lease renewal in the northern Dallas suburb of Carrollton. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Valwood Parkway Partners Ltd., in the lease negotiations. The representative of the tenant was not disclosed.
HOUSTON — A joint venture between locally based developer Midway and Los Angeles-based investment firm Arc Capital Partners has acquired Sabine Street Lofts, a 198-unit apartment complex located near downtown Houston. Built in 2001, the complex houses one- and two-bedroom units with an average size of 1,017 square feet that feature quartz countertops, individual washers and dryers and private balconies/patios. Amenities include two pools, a fitness center, outdoor lounge areas and access to Houston’s Buffalo Bayou trail network. Tom Fish and Jonathan Paine of Walker & Dunlop arranged acquisition financing on behalf of the joint venture. The seller and sales price were not disclosed.
COLLEGE STATION, TEXAS — Oldham Goodwin has sold the Westinghouse Building at Providence Park, a 175,752-square-foot life sciences facility in College Station. Oldham Goodwin acquired the facility, which was originally built in 1983 as a manufacturing plant for Westinghouse Electronic Systems Group, in 2016. At that point, the facility had been shuttered since 1999. Dallas-based Big Sky Medical Real Estate purchased the asset for an undisclosed price.
HOUSTON — Northmarq has arranged a loan of an undisclosed amount for the refinancing of a 174,139-square-foot industrial flex property in Houston. The property was built in 1992 on a 14-acre site on the city’s northwest side. Larry Peters and Adam Unger of Northmarq arranged the loan through an undisclosed life insurance company. The borrower was also not disclosed.
FORT WORTH, TEXAS — Locally based brokerage firm Colonial Commercial Real Estate has negotiated the sale of an 80,000-square-foot industrial building located near Fort Worth’s downtown area. Baillargeon Realty LLC sold the property at 205 N. Vacek St. to Tarrant Area Food Bank, a local nonprofit, for an undisclosed price. Jane Tapper of Colonial Commercial represented both parties in the transaction. The buyer also operates a food bank across the street.
CARROLLTON, TEXAS — Diversco Inc., a South Carolina-based provider of marine equipment, has signed a 51,498-square-foot industrial lease renewal in the northern Dallas metro of Carrollton. The space is located within Marsh Business Park West. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as DK Industrial Dallas LLC, in the lease negotiations. The representative of the tenant was not disclosed.