DALLAS — Marcus & Millichap has brokered the sale of Hampton Greens, a 309-unit multifamily property in northeast Dallas. Built in 1985 on nine acres, the 16-building community offers one- and two-bedroom floor plans featuring patios or balconies, walk-in closets and exterior storage space. Amenities include a pool, business center, fitness center, clubhouse, children’s play area and onsite laundry facilities. David Fersing, Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller, Los Angeles-based Oro Capital Advisors LLC, in the transaction. The team also procured the buyer, a partnership between two locally based firms, Capital Boutiq and Trinity Investors.
HOUSTON — JLL has negotiated the sale of 10497 Town & Country Way, a 150,000-square-foot office building in West Houston. Kevin McConn and Rick Goings of JLL represented the seller, an affiliate of metro Philadelphia-based Equus Capital Partners, in the transaction. Kelly Layne and John Ream, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, a joint venture between 35 South Capital and Lee & Associates. Independent Bank provided the loan.
AUSTIN AND SCHERTZ, TEXAS — Northmarq has arranged three loans totaling $15.3 million for the refinancing of three industrial flex properties totaling 100,388 square feet in Central Texas. The properties comprise a 38,800-square-foot facility in Austin that was built in 1999 and was fully leased at the time of sale, as well as two properties in the northeastern San Antonio suburb of Schertz spanning a combined 61,588 square feet. The Schertz properties were constructed in 2018 and 2020 and were close to and fully leased at the time of the loan closing. Bryan Leonard of Northmarq arranged the debt through an undisclosed credit union. The borrowers were also not disclosed.
OKLAHOMA CITY — JLL has negotiated the sale of 240 Penn Park, a 241,831-square-foot retail power center in Oklahoma City. Built on 22.2 acres in 2006, the center was 99 percent leased at the time of sale to tenants such as Marshalls, Ross Dress for Less, Michaels, PetSmart, Best Buy, Saltgrass, Lane Bryant, Five Below, Charleston’s Restaurant and GNC. Ryan Shore, Chris Gerard, Greyson Fewin and Pauli Kerr of JLL represented the seller, a partnership between New York-based DRA Advisors and private investment group RCG Ventures, in the transaction. Locally based investment firm Mazaheri Properties acquired the asset for an undisclosed price.
ROCKPORT, TEXAS — Marcus & Millichap has arranged the sale of Pearl Point, a 216-unit apartment complex in the southern coastal city of Rockport. Units at Pearl Point feature an average size of 906 square feet and are equipped with patios/balconies, walk-in closets and full-size washers and dryers. Amenities include a pool, open green space and a dog park. Kent Myers and Nico Bianchi of Marcus & Millichap represented the seller, a partnership between Rockport-based Uhr Real Estate Inc. and Iowa-based Frew Development Group, in the transaction. The duo also procured the buyer, Dallas-based RREAF Holdings.
SAN ANTONIO — Fairstead, an investment firm with three offices along the East Coast, has acquired Aurora Apartments, a 105-unit historic multifamily complex in San Antonio’s Tobin Hill neighborhood. The 11-story, 92-year-old building currently provides housing for low-income senior citizens. Fairstead plans to invest $15 million to rehabilitate Aurora Apartments and preserve the property’s affordability status. Renovations will include upgrades of pieces of building infrastructure such as the emergency generator, electrical panels and main switchgear, as well as the installation of a new sprinkler system, elevators and roofing. The units’ kitchens, bathrooms, HVAC units and appliances will also be upgraded. Construction is expected to begin this summer.
DALLAS — Law firm Munsch Hardt Kopf & Harr has signed a new 77,009-square-foot office lease at Ross Tower, a 1.1 million-square-foot building located at 500 N. Akard St. in downtown Dallas. The firm, which employs about 175 people in Dallas, will relocate from floors 36, 38 and 39, where it has leased space since 2005, to floors 40 through 42. The new lease term is 15 years, and the firm plans to take occupancy of its new space next fall. Craig Wilson, Dan Harris, Randy Cooper and Tim Terrell of Stream Realty Partners represented the tenant in the lease negotiations. HPI Real Estate Services & Investments owns Ross Tower.
HOUSTON — Locally based development and management firm Levcor has welcomed three new tenants to Post Oak Plaza in Uptown Houston. Fitness concept Body20 has opened a 1,995-square-foot studio, and Australian-inspired coffee shop Bluestone Lane has signed a lease for 1,405 square feet with plans to launch this fall. In addition, B/S/H Experience & Design Center, a luxury appliance showroom, has committed to 14,777 square feet for its first Texas location. That opening is also slated for the fall.
AMARILLO, TEXAS — Dallas-based Mycon General Contractors is underway on construction of a 781-unit self-storage facility for U-Haul in Amarillo that will also offer truck and trailer rental services. The four-acre site at 5316 Canyon Drive already houses several U-Haul facilities, and the new three-story building will add 83,000 square feet of net rentable, climate-controlled space and 11,267 square feet of box storage space to the existing complex. Full completion is slated for December. In addition to the construction of the new building, the existing paving, landscaping and onsite ingress/egress points will also be renovated.
AUSTIN, TEXAS — Locally based investment and development firm Stratus Properties (NASDAQ: STRS) has received a $56.8 million construction loan for The Saint George, a 316-unit multifamily project that will be located near the University of Texas at Austin. Comerica Bank provided the four-year loan, and an undisclosed equity partner is funding the majority of the remaining development costs. Ten percent of the units at The Saint George will be reserved as affordable housing. Amenities will include a pool, fitness center, rooftop deck and communal workspaces. Stratus expects to begin construction in the coming days and for the project to be substantially complete by mid-2024