REBusinessOnline

Newmark Brokers Sale of 339-Unit Apartment Building in Downtown San Antonio

SAN ANTONIO — Newmark has brokered the sale of Encore SoFlo, a 339-unit apartment building located at 326 S. Flores St. in downtown San Antonio. Built in 2019, the property offers studio, one- and two-bedroom units with an average size of 809 square feet. Amenities include a pool with a bar, courtyards with fire pits and grilling stations, clubhouse with a media room, business center with conference facilities, a fitness center, game room and a dog run. Matt Michelson and Patton Jones of …

JLL Arranges $37.5M Loan for Refinancing of Metro Dallas Seniors Housing Community

MCKINNEY, TEXAS — JLL has arranged a $37.5 million loan for the refinancing of Hidden Springs of McKinney, a 194-unit seniors housing community located on the northern outskirts of Dallas. The property was built in 2020 and offers assisted living, independent living and memory care services. Amenities include a pool, fitness center and a dog park. Joel Mendes and Jason Skalko of JLL arranged the nonrecourse, fixed-rate loan through an undisclosed life insurance company on behalf of the …

Vertical Cold Storage Acquires 227,331 SF Facility in Richardson, Texas

RICHARDSON, TEXAS — Vertical Cold Storage, a developer and operator of temperature-controlled industrial facilities, has acquired Lone Star Cold Storage, a 227,331-square-foot property located in the northeastern Dallas suburb of Richardson. The facility features 5.6 million cubic feet of storage space, 17,892 pallet positions and 40 dock doors. In addition, Lone Star Cold Storage offers seven rooms for various food processing and storage needs with temperatures ranging from -20 to 45 degrees …

Shorenstein Properties Sells 210,000 SF Office Building in Austin’s Mueller District

AUSTIN, TEXAS — Shorenstein Properties, an investment firm headquartered in San Francisco and New York City, has sold the Alpha Building, a 210,000-square-foot office property located within the 750-acre Mueller District in Austin. The Teacher Retirement System of Texas (TRS) purchased the six-story building, which was designed by Page Sutherland Page, for an undisclosed price. Troy Holme and Peter Jansen of CBRE represented TRS in the transaction. Shorenstein is developing two more office …

RealSource Negotiates Sale of 37,030 SF West Houston Retail Property Leased to LA Fitness

HOUSTON — California-based brokerage firm RealSource Group has negotiated the sale of a 37,030-square-foot single-tenant retail property in West Houston that is net leased to LA Fitness. Austin Blodgett of RealSource Group, in conjunction with ParaSell Inc., represented the seller, a Houston-based private developer, in the transaction. Roger Oser of Newmark represented the California-based buyer. Both parties requested anonymity. The deal traded at a cap rate of 6.12

Fowler Property Buys Kirby Collection Mixed-Use Property in Houston for $182M

HOUSTON — Fowler Property Acquisitions, a San Francisco-based investment firm, has purchased The Kirby Collection, a mixed-use property in Houston that consists of 199 multifamily units and roughly 291,000 square feet of commercial space, for $182 million. Built in 2018 on the city’s west side, The Kirby Collection comprises a 25-story apartment complex, a 182,000-square-foot office building and a 60,000-square-foot retail building. Thor Equities sold the property for a per-unit price of …

Berkadia Negotiates Sale of 432-Unit Turtle Pointe Apartments in West Houston

HOUSTON — Berkadia has negotiated the sale of Turtle Pointe, a 432-unit apartment community in West Houston. Built in 1976, the property offers studio, one- and two-bedroom floor plans ranging in size from 576 to 917 square feet. About a quarter of the units are townhomes. Amenities include a resident clubroom, business center, fitness center, indoor racquetball and basketball courts, three pools, heated spa, café- style recreation room and an enclosed dog park. Todd Marix, Chris Curry, …

Greysteel Brokers Sale of 222-Unit Apartment Complex in Killeen, Texas

KILLEEN, TEXAS — Greysteel has brokered the sale of Brickstone Villas, a 222-unit apartment complex located in the Central Texas city of Killeen. The recently renovated community features one- and two-bedroom units. Amenities include a pool and onsite laundry facilities. J.R. Ellis of Greysteel represented the seller in the transaction. Harrison Cole and Daniel Hartnett, also with Greysteel, arranged acquisition financing on behalf of the undisclosed

Newmark Secures 206,369 SF Office Lease in LaPorte, Texas

LAPORTE, TEXAS — Newmark has secured a 206,369-square-foot office lease in LaPorte, located east of Houston. Andy Iversen, Reggie Beavan III, Chris Mason, John Beach, Griffin Rich, John Luck, Joshua Brown, Trace Elrod and Audrey Selber of Newmark represented the tenant, Overland Distribution Inc., in the lease negotiations. Liberty Property Co. owns the

Northmarq Arranges $12.3M Loan for Refinancing of Office Property in San Antonio

SAN ANTONIO — Northmarq has arranged a $12.3 million loan for the refinancing of Teralta Corporate Park, a two-building, 58,389-square-foot office property in San Antonio. The single-story property was built in 2017 and fronts Loop 1604 near the junction of Interstate 10. Aetna provided the three-year, interest-only loan to the borrower, San Antonio-based Sirell Properties. Bryan Leonard of Northmarq arranged the

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‣ Walker & Dunlop

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