FRISCO, TEXAS — Quality Custom Distribution (QDC), a division of Golden State Foods that services restaurant chains like Chick-fil-A, Chipotle Mexican Grill and Starbucks Coffee, will relocate its corporate headquarters from Irvine, California, to Frisco. The company expects to begin moving in to its new facility in January 2020. QCD already operates a manufacturing and distribution facility in the metroplex. According to The Orange County Register, the facility could house as many as 45 workers.
AUSTIN, TEXAS — Landmark Properties has acquired The Nine at Rio and The Nine at West Campus, two student housing properties totaling 692 beds near the University of Texas at Austin. The Nine at West Campus totals 345 beds and features amenities such as a pool with a tanning shelf, courtyard grilling stations, fitness center, game room, media lounge and coffee bar. The Nine at Rio totals 347 beds and offers a similar amenity package. The seller was not disclosed.
FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Coventry at Cityview, a 360-unit apartment community located near the intersection of Interstate 20 and Chisholm Trail Parkway in Fort Worth. Built in 1996, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center and playground. Will Balthrope, Drew Kile, Joey Tumminello and Grant Raymond of IPA represented the seller Harbor Group International LLC, in the transaction. The team also procured the buyer, WAK Management Co.
HOUSTON — JLL has arranged the sale of Mark VI, a 144-unit multifamily property in the Bellaire submarket of Houston. The property was built in 1970 and features a pool with a lounge area, six landscaped courtyards with seating, onsite laundry facilities and covered parking. Joey Rippel, Chris Young and Bailey Crowell of JLL represented the seller, AK Interests, in the transaction. The buyer, Indus Management Group, will rebrand the community as The Atrium at 5606 and implement a value-add program.
DALLAS — Gergef Auto Parts has signed a 110,800-square-foot industrial lease at 4012 W. Illinois Ave. in Dallas. Jim Ferris of Bradford Commercial Real Estate Services represented the tenant in the lease negotiations. Matt Elliot of NAI Robert Lynn represented the landlord, Illinois Avenue Capital Partners LLC.
EL PASO, TEXAS — Hunt Real Estate Capital has provided a $7 million Fannie Mae loan to refinance an undisclosed multifamily asset in El Paso. The nonrecourse loan carries a 12-year term, fixed interest rate and a 30-year amortization schedule. The undisclosed borrower refinanced the property under Fannie Mae’s Green Rewards program.
HOUSTON — Transwestern Development Co. (TDC) has broken ground on Sam Houston Distribution Center, an 833,720-square-foot industrial project in northwest Houston. The Class A development will consist of three buildings and is scheduled for completion in the second quarter of 2020. The front-load and cross-dock buildings will range from 138,720 to 494,800 square feet and can accommodate users from 35,000 to 833,720 square feet. The ceiling heights range from 32 to 36 feet. The property also offers land for added trailer storage or a build-to-suit opportunity, as well as ample car parking and trailer stalls.
AUSTIN, TEXAS — A subsidiary of Stratus Properties Inc., a publicly traded investment and development firm, has received a $75 million loan for the refinancing of The Santal, a 448-unit apartment community located in the Barton Creek area of Austin. ACRC Lender LLC provided the non-recourse loan, which carries a three-year term with two 12-month extension options and bears a 4.8 interest floor. A portion of the proceeds will be used to retire construction debt. The Santal features one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park, resident lounge and package handling service.
COLLEGE STATION, TEXAS — JLL has arranged a $42 million loan for the refinancing of Century Square, a mixed-use property in College Station. Built in 2018 and located adjacent to Texas A&M University’s campus, the development features 159,128 square feet of retail space, 57,204 square feet of office space, two hotels totaling 303 rooms and 249 multifamily units, as well as open green spaces. The refinancing did not cover the hospitality and residential components. Ares Management Corp. provided the nonrecourse loan to the borrower, a partnership between Houston-based Midway Cos. and Chicago-based Harrison Street. Colby Mueck, Timothy Joyce, Stephen Skok, Stuart Hepler, Katherine Miller and Charlie Strauss of JLL handled the transaction.
TYLER, TEXAS — Marcus & Millichap has brokered the sale of a 733-unit portfolio of self-storage facilities located in and around Tyler, about 100 miles east of Dallas. The portfolio spans 103,582 net rentable square feet. Dave Knobler, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor, in the transaction. The trio also secured the buyer, a DFW-based owner-operator.