HOUSTON — Lev, a commercial financing platform based in New York City, has arranged an $11.7 million bridge loan for the refinancing of an undisclosed, 292-unit multifamily property in Houston. Justin Piasecki, Richard Sutton and Max Lipner of Lev originated the three-year, floating-rate, interest-only loan. The borrower, Los Angeles-based Claridge Properties, originally acquired the asset in December 2020 and subsequently implemented a range of capital improvements.
DALLAS — Colliers has brokered the sale of a 160,000-square-foot office complex located at 12160 & 12170 Abrams Road in North Dallas. The two-building complex is situated within the East LBJ Freeway submarket. Cody Payne, Michael Tran and Austin Edelmon of Colliers represented the seller, a private investor, in the transaction. Payne also secured a private investor as the buyer. Both parties requested anonymity.
ARLINGTON, TEXAS — Lee & Associates has negotiated an 86,240-square-foot industrial lease at 2101 Exchange Drive in Arlington. According to LoopNet Inc., the building part of Great Southwest Distribution Center. Reed Parker and Mark Graybill of Lee & Associates represented the landlord, Link Industrial Properties, in the lease negotiations. The name and representative of the tenant were not disclosed.
KYLE, TEXAS — A public-private partnership between developer Alliance Industrial Co., Kyle Economic Development and the Greater San Marcos Partnership will build a 1 million-square-foot speculative industrial project in Kyle, a southern suburb of Austin. Branded Kyle/35 Logistics Park, the development will consist of five facilities ranging in size from approximately 140,000 to 475,000 square feet. Buildings will feature clear heights of 36 to 40 feet, a mix of single-load and cross-dock configurations and ample employee and trailer parking spaces. Completion is slated for the first quarter of 2023.
HOUSTON — Walker & Dunlop has arranged the sale of The Flats at West Alabama, a 304-unit apartment community in Houston’s River Oaks neighborhood. The property, which according to Apartments.com was built in 2021, offers one-, two- and three-bedroom units and amenities such as a pool, coworking spaces, a club area with an entertainment kitchen and a rooftop deck. Ryan Epstein and Jennifer Ray of Walker & Dunlop represented the seller, Atlanta-based Wood Partners, in the transaction. Alexandra Huffman, also with Walker & Dunlop, originated Fannie Mae acquisition financing of behalf of the buyer, Virginia-based Capital Square.
HOUSTON AND SUGAR LAND, TEXAS — Cubework, an industrial and office operator specializing in flexible work solutions, has opened two warehouses totaling 302,000 square feet in Houston. The rail-served property at 3401 Navigation Blvd. is located near downtown and features 32-foot clear heights and 38 exterior dock doors. The second property, located in the southwestern Houston suburb of Sugar Land, spans 200,000 square feet and offers 32-foot clear heights and 3,030 square feet of office space. The owner(s) was not disclosed. Cubework also recently opened a 180,000-square-foot facility in San Antonio.
IRVING, TEXAS — Liquid Environmental Solutions has signed a 39,528-square-foot office lease extension at Esters 114 Business Center in Irving. The lease ensures that the waste management company will continue to operate its corporate headquarters at the building, which is 91 percent leased. corporate headquarters. Clint Madison and John Fancher of Cushman & Wakefield represented the landlord, Stanton Road Capital in the lease negotiations. Ryan Buchanan and Josh White with CBRE represented the tenant.
CARROLLTON, TEXAS — Newmark has brokered the sale of a 10,874-square-foot, single-tenant retail property in the northern Dallas suburb of Carrollton that is net leased to Just Tires. Matt Berres, Samer Khalil, Karick Brown and Lispah Hogan of Newmark represented the seller in the transaction. Douglas Kim of Tru Promise Real Estate represented the buyer. Both parties were private investors that requested anonymity.
FRIENDSWOOD, TEXAS — French lending institution Natixis has provided a $50.7 million acquisition loan for The Grayson at Baybrook, a 322-unit apartment community located in the southern Houston suburb of Friendswood. The property features one- and two-bedroom units and amenities such as a pool, fitness center, resident clubhouse and a sand volleyball court. Tucker Knight and Carl Rasmussen of Berkadia placed the loan on behalf of the borrower, SRJ Real Estate Investments, which will use a portion of the proceeds to fund capital improvements.
WACO, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Heritage Quarters, a 374-bed student housing community located about 1.5 miles from Baylor University’s campus in Waco. Built in 2008, the mid-rise property sits on 2.7 acres and totals 106 units. The amenity package comprises a pool, 24-hour fitness center, billiards room, business center and a conference room. Danny Wieland of TMG represented the undisclosed seller in the transaction. Paul Yazbeck, also with TMG, represented the buyer.