HOUSTON — Greystone has provided a $36.6 million Freddie Mac loan for the refinancing of a 476-unit apartment community in Houston. The name of the property, which was originally built in 1966 and offers one-, two- and three-bedroom units, was not disclosed. The loan was structured with a fixed five-year term and full-term, interest-only payments. The borrower, which was also not disclosed, has invested in capital improvements since acquiring the property, including unit interior renovations and upgrades of building systems. Gill Dolan led the transaction for Greystone.
FORT WORTH, TEXAS — Lee & Associates has negotiated a 123,241-square-foot industrial lease in South Fort Worth. The space is located within Carter Industrial Park. Reid Bassinger, Trey Fricke and Schaefer Amos of Lee & Associates represented the tenant, ReturnPro, which provides post-purchase services for retailers, in the lease negotiations. Cheyenne Mungaray, Forrest Cook and Jeff Rein of Stream Realty Partners represented the landlord, Agellan Capital Partners Inc.
MATHIS, TEXAS — MAG Capital Partners has purchased a 34,150-square-foot industrial facility in Mathis, about 35 miles northwest of Corpus Christi, in a sale-leaseback deal. The 37.7-acre site at 11557 State Highway 359 houses the global headquarters operations of Airforce Turbine Service and includes a private runway. Steven Okon, Blake Shaffer and Anthony Walters of JLL advised on the transaction. DWG Capital Group arranged acquisition financing for the deal on behalf of the purchaser.
GEORGETOWN AND CEDAR PARK, TEXAS — A joint venture between global investment firm Oxford Properties Group and Pine Tree, a retail operator based in Chicago, has purchased a portfolio of two open-air retail centers totaling approximately 1 million square feet in metro Austin. Wolf Ranch Town Center totals roughly 633,000 square feet and is located in the northern suburb of Georgetown. Lakeline Plaza totals roughly 386,000 square feet and is located in Cedar Park, another northern suburb of Austin. Both centers are home to an array of national retailers such as Target, T.J. Maxx, Best Buy and Ulta Beauty. Kyle Minter and Conor Lalor of Newmark brokered the deal. The seller and sales price were not disclosed.
BRYAN, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a 693-unit facility in the Central Texas city of Bryan that is operated under the Lone Star Storage brand. The property, which totals 91,150 net rentable square feet, was sold as part of a larger, family-owned portfolio. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the Texas-based seller in the transaction. The team also procured the buyer, North Carolina-based Morningstar Properties.
CYPRESS, TEXAS — Charlotte-based Big V Property Group and Principal Asset Management have purchased Fairfield Town Center, a 355,000-square-foot shopping center in Cypress, located on the northwestern outskirts of Houston. The open-air center was roughly 99 percent leased at the time of sale to tenants such as Academy Sports + Outdoors, Cinemark, H-E-B, Kohl’s, Ross Dress for Less, Marshalls, HomeGoods and Old Navy. The seller and sales price were not disclosed.
HOUSTON — Provident Industrial, a division of Dallas-based Provident, will develop Wayside Distribution Center, a 157,300-square-foot project in South Houston. The site spans 10.2 acres, and the front-load building will feature 32-foot clear heights, 29 dock doors, two ramps, 114 car parking spaces and an ESFR sprinkler system. Provident is developing the project in partnership with South Florida-based Inclenberg Investments. A tentative completion date was not announced.
SAN ANTONIO — Sterling Organization has sold Park North Shopping Center, a 635,325-square-foot regional power center in San Antonio. Local media sources, including My San Antonio, report that the purchase price was $115 million. Target anchors the property, which sits on a 45.7-acre site and was 93.3 percent leased at the time of sale. Other tenants include Pinstack, Alamo Drafthouse Cinema, Norris Conference Centers and Outlaw Pickleball. Chris Gerard, Barry Brown, Erin Lazarus and Whitney Snell of JLL represented Sterling in the transaction. The buyer was Dhanani Private Equity Group.
CYPRESS, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a 593-unit facility in Cypress, located on the northwestern outskirts of Houston, that is operated under the Lone Star Storage brand. The property, which totals 91,150 net rentable square feet, was sold as part of a larger, family-owned portfolio. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the Texas-based seller in the transaction. The team also procured the buyer, North Carolina-based Morningstar Properties.
SUGAR LAND, TEXAS — A partnership between Dallas-based Lincoln Property Co. and PGIM Real Estate has purchased Imperial Medical Center, a 129,000-square-foot healthcare property located in the southwestern Houston suburb of Sugar Land. The facility was built in 1994 in proximity to multiple hospital campuses and is home to users such as Memorial Hermann, Alpha Surgical Center and Texas Advanced Imaging. The seller was a partnership between Pinecroft Realty and Harrison Street Asset Management.