Texas

Berkadia Arranges Acquisition Financing for 17-Story Mixed-Use Property in San Antonio

by Taylor Williams October 10, 2019

SAN ANTONIO — Berkadia has arranged an undisclosed amount of financing for The Vistana, a 17-story mixed-use property in downtown San Antonio. Built in 2009, the Vistana consists of 247 multifamily units in one-, two- and three-bedroom formats and more than 30,000 square feet of retail space. Brad Williamson of Berkadia arranged the five-year loan, which carried a 3.11 percent fixed interest rate, through a national bank on behalf of the borrower, a joint venture between Duncan Hillsley Capital and Rincon Real Estate Investments.

October 10, 2019

Development Office Texas

Brandywine to Develop 150,000 SF Office Building in Southwest Austin

by Taylor Williams October 10, 2019

AUSTIN, TEXAS — Brandywine Realty Trust, a Philadelphia-based REIT, will develop Garza Ranch Building Two, a 150,000-square-foot office property in southwest Austin. Designed by Page Architecture, the project represents the final phase of the 34-acre Garza Ranch mixed-use development. The building will feature floor-to-ceiling windows, as well as direct access to a two-acre park and the Violet Crown Trail, a 30-mile path that bisects the development. JLL will handle leasing of the building. A construction timeline was not released.

October 10, 2019

Acquisitions Multifamily Texas

Limited Liability Company Acquires Two Multifamily Assets Totaling 217 Units in Amarillo

by Taylor Williams October 10, 2019

AMARILLO, TEXAS — AWF Fund I LLC has acquired Lambie Lane and Park Lane, two apartment complexes totaling 217 units in Amarillo. The market-rate properties were built in 1976 and 1982, respectively, on contiguous parcels. Dougherty Mortgage arranged $7.3 million in Fannie Mae Green Rewards acquisition financing on behalf of the fund. The loan, which was secured through a partnership with Old Capital Lending, carries a 12-year term and a 30-year amortization schedule.

October 10, 2019

Acquisitions Oklahoma Retail Texas

Disney Investment Group Brokers Sale of 70,376 SF Shopping Center in Tulsa

by Taylor Williams October 10, 2019

TULSA, OKLA. — Disney Investment Group has brokered the sale of Memorial Crossing, a 70,376-square-foot shopping center in Tulsa. Anchored by HomeGoods, Petsmart and ULTA Beauty and shadow-anchored by Costco, the center was 97 percent leased at the time of sale. Disney Investment Group represented the seller, Dallas-based Leon Capital Group, in the transaction, and procured the undisclosed buyer.

October 10, 2019

Acquisitions Retail Texas

Marcus & Millichap Negotiates Sale of 19,338 SF Retail Center in Metro Austin

by Taylor Williams October 10, 2019

CEDAR PARK, TEXAS — Marcus & Millichap has negotiated the sale of The Shops at East Park, a 19,338-square-foot retail center in the Austin suburb of Cedar Park. Built in 2014 on 2.3 acres, the property was 94 percent leased at the time of sale to tenants including Blooming Dental, Master Yang’s Karate Studio and Vista Donuts. Philip Levy, Chris Gainey and Parker Yates of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was a Dallas-based private investment partnership.

October 10, 2019

Loans Multifamily Texas

Money360 Provides $21.4M Bridge Loan for Office Asset in Frisco

by Taylor Williams October 9, 2019

FRISCO, TEXAS — California-based direct lender Money360 has provided a $21.4 million bridge loan for the refinancing of an undisclosed office property in the northern Dallas suburb of Frisco. The nonrecourse loan carries a 24-month term, floating interest rate and 75 percent loan-to-value ratio. The borrower was not disclosed.

October 9, 2019

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of Two Industrial Buildings Totaling 151,700 SF in Arlington

by Taylor Williams October 9, 2019

ARLINGTON, TEXAS — Lee & Associates has brokered the sale of two industrial buildings totaling 151,700 square feet in Arlington. The properties are located at 2000 and 2030 E. Arbrook Blvd., less than a mile from Interstate 20. Mark Graybill and Colton Rhodes of Lee & Associates represented the seller, Hamilton Commercial LLC, in the transaction. EastGroup represented the buyers.

October 9, 2019

Acquisitions Office Retail Texas

NAI Partners Negotiates Sale of Retail, Office Property in Metro Houston

by Taylor Williams October 9, 2019

SPRING, TEXAS — NAI Partners has negotiated the sale of Spring Stuebner Plaza, a 66,125-square-foot retail and office warehouse property located near Springwoods Village on the northern outskirts of Houston. The property was fully leased at the time of sale. Josh Lass-Sughrue and Jason Ridenbaugh of NAI Partners represented the seller, Spring Stuebner Realty Ltd., in the transaction. The buyer was an undisclosed private investor.

October 9, 2019

Leasing Activity Office Texas

Sunwest Real Estate Signs 52,551 SF Lease at Tennyson Office Center in Plano

by Taylor Williams October 9, 2019

PLANO, TEXAS — Sunwest Real Estate Group has signed a 52,551-square-foot lease at Tennyson Office Center, a two-building office complex in Plano. The tenant was NCR Corp. Doug Hanna and Tabitha Layne represented the building ownership on an internal basis. Doug Carignan and Steve Thelen of JLL represented the tenant. Sunwest recently repositioned the property to the tune of $3 million, renovating the lobbies, corridors, restrooms and exterior façade painting.

October 9, 2019

Industrial Leasing Activity Texas

Holt Lunsford Arranges 24,399 SF Industrial Lease in Coppell, Texas

by Taylor Williams October 9, 2019

COPPELL, TEXAS — Holt Lunsford Commercial has secured a 24,399-square-foot industrial lease at 820 W. Sandy Lake Road in Coppell, located north of Fort Worth. According to LoopNet Inc., the property was built in 2006 and is located about a mile north of DFW International Airport. Jim Brice of Holt Lunsford represented the landlord, La Salle Investment Management Inc., in the lease negotiations. Matt Elliot of NAI Robert Lynn represented the tenant, Science Care Inc., an organ donation and tissue bank.

October 9, 2019

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