HOUSTON — Northmarq has arranged a $10.5 million loan for the refinancing of West Little York Trade Park, a 120,900-square-foot industrial property in Houston. The property was built in 2020 and consists of 15 single-tenant buildings ranging in size from 7,000 to 11,875 square feet. Matt Franke of Northmarq arranged the nonrecourse, fixed-rate loan, which was structured with 18 months of interest-only payments, through an undisclosed regional bank. The borrower was also not disclosed.
HOUSTON — Partners, a Houston-based investment and brokerage firm formerly known as NAI Partners, has acquired a 53,500-square-foot industrial flex property located at 10849-10899 Kinghurst Drive in southwest Houston. The property was fully leased at the time of sale. Jason Scholtz of Colliers represented Partners in the transaction. Veritex Community Bank provided acquisition financing. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — Tax consulting firm Kirkwood & Darby has signed a 5,667-square-foot office lease at 2601 Scott Ave. in Fort Worth. According to LoopNet Inc., the six-story property was built in 1980 and renovated in 2021. Vic Meyer and Jake Neal of Holt Lunsford Commercial represented the tenant in the lease negotiations. Jeff Marek of Vision Commercial Real Estate represented the landlord, WRA Investments LP.
KYLE, TEXAS — Locally based investment firm Palladius Capital Management has purchased Citizen House Kyle, a 342-unit multifamily property that is located along the I-35 corridor on the southern outskirts of Austin. Built in 2022, the community is situated within Dry River, a 65-acre mixed-use development by Endeavor Real Estate Group. Residences come in one- and two-bedroom formats, and amenities include a pool, fitness center, outdoor lounge, coworking space and a resident clubhouse. Austin-based Endeavor developed and sold the property. The price was not disclosed. Tony Stein and B.K. Newsom of CBRE arranged a $60 million acquisition loan through CBRE Investment Management on behalf of Palladius.
LIVE OAK, TEXAS — General contractor Whiting-Turner Construction has broken ground on the 199,765-square-foot first phase of a new headquarters facility for electrical contractor Alterman in the northeastern San Antonio suburb of Live Oak. Designed by Studio8, the 19.7-acre campus will include office space for all three of Alterman’s divisions as well as a logistics building and various outdoor amenity spaces. Completion is slated for early 2024.
DALLAS — New York-based investment firm Seavest Healthcare Properties has acquired six emergency hospitals totaling 190,000 square feet that are located throughout the Dallas-Fort Worth metroplex. Specifically, the facilities, which typically feature 24/7 emergency services and eight to 12 beds for overnight stays, are located in Burleson, Colleyville, Keller, Murphy, Rockwall and Grand Prairie. Seavest acquired the properties, which are operated by Baylor Scott & White, in a joint venture with global asset management firm Heitman LLC. The seller was not disclosed.
IRVING, TEXAS — CBRE has brokered the sale of Zander Park, a 160-unit apartment complex in Irving that was originally built in 1971. Jordan Multifamily, an owner-operator specializing in Class B and C properties, purchased the asset from an entity doing business as BW Zander Park LLC for an undisclosed price. Chris Deuillet, William Hubbard and Jaxx Davis of CBRE brokered the sale. Josh Berde, Andrew Woertendyke and Bond Foster, also with CBRE, arranged acquisition financing on behalf of the buyer, which plans to use a portion of the proceeds to fund capital improvements.
MCKINNEY, TEXAS — Northern Tool + Equipment and AutoZone have signed retail leases totaling 39,357 square feet in McKinney, about 35 miles northeast of Dallas. The tenants will backfill a space previously occupied by Super 1 Foods with footprints of 22,500 and 16,857 square feet, respectively. William Rosatti represented the landlord, JAH Realty, in the lease negotiations on an internal basis. Clay Mote of Retail Union and Mack House of Westover Group represented Northern Tool and AutoZone, respectively.
CONROE, TEXAS — A partnership between locally based developer Lovett Industrial and private investment firm Cresset Partners has broken ground on NorthPort Logistics Center, a 1.2 million-square-foot logistics project in Conroe, about 40 miles north of Houston. The Class A facility will be situated on a 75-acre site within Conroe Park North and will feature 40-foot clear heights, 224 dock-high doors, 190-foot truck court depths and a minimum of 273 trailer parking stalls. Powers Brown Architecture is designing the project, and Alston Construction is serving as the general contractor. CBRE is the leasing agent, and Citizens Bank provided construction financing. Completion is slated for the second quarter of 2023.
PASADENA, TEXAS — New York City-based Olive Tree Holdings is underway on a $10 million renovation at The Life at Park View, a 309-unit affordable housing community in the eastern Houston suburb of Pasadena. The property houses one-, two- and three-bedroom units for households earning 60 percent or less of the area median income. Renovations will include new flooring, kitchen and bathroom countertops, cabinets and appliances. To date, 59 residences have been completed, with an additional 50 in progress. Exterior improvements will include new roofing and windows, as well as plumbing and HVAC upgrades. Completion is slated for the second quarter of 2023.