HOUSTON — Wood Partners, a multifamily development and investment firm with offices around the country, has broken ground on Alta Med Main, a 338-unit multifamily property that will be located within the Texas Medical Center in Houston. The community will include a structured parking garage and amenities such as a pool, fitness center, communal office space, dog park and a courtyard. Completion is slated for spring 2020.
COPPELL, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of a 37,069-square-foot office building located at 635 Fritz Drive in Coppell, a northwestern suburb of Dallas. Erik Blais and Richmond Collinsworth of Bradford Commercial represented the seller, International Association of Venue Managers Inc., in the transaction. Ben Appleby of Paladin Partners represented the buyer, Tanam LLC.
KATY, TEXAS — NAI Partners has secured a 21,750-square-foot industrial lease at 1430 Vanderwilt Lane in the western Houston suburb of Katy. The property was built in 2005. Shaffer Braun of NAI Partners represented the undisclosed landlord in the lease negotiations. The tenant was Florida Water Products, which serves swimming pool builders, retailers and service companies throughout Florida and Texas.
GEORGETOWN, TEXAS — Hanley Investment Group has completed the $1.9 million sale-leaseback of a 2,567-square-foot restaurant building leased to Bush’s Chicken in Georgetown, a suburb of Austin. Austin Blodgett and Eric Wohl of Hanley Investment Group represented the local seller in the deal. Sam Sheikh with Realty Austin represented the buyer, an Austin-based private investor. Both parties requested anonymity.
DALLAS — Lee & Associates has negotiated a 13,297-square-foot office lease at 750 N. St. Paul St. in Dallas. Nathan Denton of Lee & Associates represented the tenant, Mayer LLP, in the lease negotiations. Ben Davis, Jackie Marshall and Fletcher Cordell of CBRE represented the landlord, Quadrant.
DALLAS AND FORT WORTH, TEXAS — Austin-based multifamily investment firm NAPA Ventures LLC has sold four communities totaling approximately 700 units in the Dallas-Fort Worth (DFW) area. The properties include Brandon Mill and Westwood in Dallas, Oates Creek in the eastern Dallas suburb of Mesquite and Ravenwood in Fort Worth. NAPA acquired the assets in 2016 and implemented value-add programs to the communities’ unit interiors and amenity spaces. The buyers were not disclosed.
HOUSTON AND KATY, TEXAS — LMI Capital, a Real Estate Capital Alliance (RECA) member, has placed two loans totaling $17 million for the refinancing of two multifamily properties in the Houston area. In the first transaction, Jamie Safier of LMI Capital arranged a $9.6 million agency loan for a 145-unit community in the Spring Branch submarket. The loan featured a fixed interest rate and five years of interest-only payments. In the second deal, Kurt Dennis of LMI Capital placed a $7.4 million loan for a 115-unit property in the western suburb of Katy. The loan carried a 10-year term. The names of the properties and the borrowers were not disclosed.
OKLAHOMA CITY — BMC Capital, a commercial lender with seven offices around the country, has arranged a $4.1 million bridge loan for the acquisition of an undisclosed apartment property in Oklahoma City. The loan, proceeds of which will be used to fund capital improvements at the Class C property, featured a fixed interest rate of 6.67 percent and a loan-to-cost ratio of 80 percent. The borrower was not disclosed.
OKLAHOMA CITY — CBRE has negotiated a 23,000-square-foot industrial lease at 6120 SW 29th St. in Oklahoma City for Niagara Bottling LLC, which services the bottled water industry. Randy Lacey and Austin Lacey of CBRE represented the landlord, HL Campus LLC, in the lease negotiations. Ryan Shaffer and Dwayne Flynn, also of CBRE, represented Niagara Bottling.
ARLINGTON, TEXAS — HFF has brokered the sale of a 6,400-square-foot medical clinic in Arlington that is net-leased to Dallas-based primary care provider QuestCare Partners. Marc Mandel, Steve Schrenk and Michael George of HFF represented the seller, Todd Interests, and procured the buyer, California-based Moss Group, in the transaction.