HOUSTON — Exeter Property Group, an investment firm with headquarters in suburban Philadelphia and London, has acquired Century Oaks Business Park, a 245,860-square-foot industrial development located at 10621–10641 S. Sam Houston Parkway. The property consists of six buildings situated on 19 acres. Clay Peeples and Bo Pettit of Boyd Commercial LLC/CORFAC International represented the seller, Bearden Investments, in the transaction. Daniel Miller and David Moore of Rubicon Representation acted on behalf of Exeter Property Group.
HOUSTON — Boston-based Tremont Mortgage Trust has provided a $28 million loan for the refinancing of 1711 Caroline, a 220-unit apartment community in downtown Houston. Units, which include one- and two-bedroom formats, feature stainless steel appliances, quartz countertops with tile backsplashes, custom wood cabinets, washers and dryers and private balconies. Amenities include a pool, fitness center, rooftop terrace, media lounge, business center and rentable storage units. The floating-rate loan has an 18-month initial term with two one-year extension options, subject to the borrower meeting certain conditions. The borrower was not disclosed.
DALLAS — Fort Capital, an investment firm based in Fort Worth, has purchased the Valwood Portfolio, which consists of five light industrial properties in Dallas, totaling 157,000 square feet. The properties are located throughout the north and northwest parts of the city. The seller was not disclosed. With this acquisition, Fort Capital’s industrial portfolio now spans approximately 1.7 million square feet, putting the company on track to hit its goal of owning 2 million square feet by the third quarter of 2019.
TEXAS — Red Mortgage Capital, a division of ORIX Real Estate Capital LLC, has arranged a $22 million loan for the rehabilitation of 14 affordable housing properties totaling 556 units located across 12 rural Texas communities. Existing debt on the properties was also restructured as part of the deal. The borrower was a joint venture between Related Affordable, a division of Related Cos., and the Texas Housing Foundation (THF). The United States Dept. of Agriculture (USDA) provided the loan through its rural development program.
FORT WORTH, TEXAS — Cushman & Wakefield has brokered the sale of a 35,000-square-foot office building in Fort Worth that will serve as the new North American headquarters for Point of Rental Software. Charlie Beck and Cribb Altman of Cushman & Wakefield represented Point of Rental in the property search and purchase, while Sam Franklin of Peak CRE represented the seller, Corporate Statler Ltd. Point of Rental, which offers four software platforms and operates three international offices, expects to move the 100-plus employees in its DFW office into the new space some time this summer.
HOUSTON — Local developer Midway has signed retail leases with three new tenants at CITYCENTRE, a 47-acre mixed-use destination in Houston that opened in 2010. New retailers include handbag and accessories provider Brahmin, which will open a 1,000-square-foot store; Lubbock-based City Bank, which will occupy 4,000 square feet; and Tiff’s Treats, which has signed a 1,430-square-foot lease. Lilly Golden and Blair Golden of Evergreen Commercial represented Midway in the lease negotiations. Brad Downs of The Auber Group represented Brahmin, and Jonathan Probst with The Retail Connection represented Tiff’s Treats, both of which are slated to open this fall. CITYCENTRE features 350,500 square feet of retail and dining space, 625,000 square feet of Class A office space, 35 brownstone residences, 1,155 upscale apartment and loft units, the 171-room Four Points by Sheraton–CITYCENTRE and 255-room Hotel Sorella CITYCENTRE.
SAN MARCOS, TEXAS — Illinois-based Senior Living Investment Brokerage (SLIB) has negotiated the sale of the 174-bed Regent Care Center of San Marcos in Central Texas. The property was built in 2008. A Texas-based owner-operator sold the asset to a regional operating group for $7.6 million. Matthew Alley of SLIB brokered the deal.
HOUSTON — LMI Capital a Real Estate Capital Alliance (RECA) member, has arranged two loans totaling $12.9 million for apartment complexes in Houston. In the first transaction, Jamie Safier of LMI Capital placed an $8.1 million acquisition loan for a 110-unit property in the city’s Briar Forest neighborhood. The loan carried a fixed 4.6 percent interest rate and three years of interest-only payments. In the second deal, Jamie Mullin of LMI Capital arranged a $4.8 million, floating-rate bridge loan for the acquisition of a 75-unit property in west Houston. The property names and borrowers were not disclosed.
HOUSTON — SeaSide Poké has become the latest addition to the tenant roster at Understory, a 35,000-square-foot food hall and communal gathering spot within international developer Skanska’s Capitol Tower office building in downtown Houston. SeaSide Poké, which will occupy approximately 500 square feet within the 9,000-square-foot culinary market, joins East Hampton Sandwich Co., Boomtown Coffee, Mama Ninfa’s Tacos y Tortas, MONA Fresh Italian Food and Flip ‘n Patties as the first six tenants at Understory. Nick Hernandez, Crystal Allen and Lacee Wilke of Transwestern represented Skanska and SeaSide Poké in the lease negotiations. Understory is scheduled to open later this year.
TYLER, TEXAS — Locally based general contractor Garrett & Associates has completed the renovation of Martin Hall, a 30,000-square-foot historic landmark building located on the campus of Texas College in Tyler, about 100 miles east of Dallas. The building, which was suffered structural damage from a storm in 2015, serves as the school’s designated administration space. Dallas-based Merriman Anderson served as the project architect.