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AUSTIN, TEXAS — Stratus Properties Inc. (NASDAQ: STRS) has completed the $150 million refinancing of its mixed-use development in downtown Austin, which includes W Austin Hotel & Residences and Austin City Limits Live at the Moody Theater. The W Austin Hotel is a high-rise luxury hotel located in downtown Austin’s Second Street District and a half-mile from the Austin Convention Center. Amenities at the hotel include a spa, business center and multi-room lobby bar. The hotel is also located next door to Austin City Limits Live at the Moody Theater, a music venue and production facility with a 2,700-seat capacity. Concerts at the theater are taped and aired each year on PBS affiliates nationwide. Goldman Sachs Mortgage Co. provided the 10-year, non-recourse term loan with interest fixed at 5.58 percent and payable monthly based on a 30-year amortization. In September, Stratus purchased the interest in the property of its former partner, Canyon-Johnson Urban Fund II. The purchase was based on a net price of approximately $187.2 million. The trailing 12-month net operating income (NOI) for the W Austin Property at the time Stratus purchased Canyon’s interest was $15.6 million, which equates to a capitalization rate of 8.33 percent. Stratus refinanced …

IRVINE, CALIF. — With online real estate transactions becoming increasingly competitive, Auction.com is rebranding as Ten-X and will expand its platform in the coming months to include options that will give sellers the choice of executing transactions using an online auction or a non-auction process online. When it relaunches in March, the company will feature three websites, including Ten-X Commercial, a dedicated site for commercial real estate. Ten-X Homes will be dedicated to residential real estate. Auction.com will continue, but will focus on investment properties for residential real estate buyers. “We’re shifting from a disposition platform for distressed assets into a marketplace where people can come and buy traditional, high-quality properties,” says Rick Sharga, the company’s executive vice president. “That has been a big change for us over the past 18 months.” In mid-March, the company’s new transactional platforms will be on display at South by Southwest in Austin, Texas. The annual set of film, interactive media and music festivals attracts entrepreneurs and creative types. Ten-X will launch Ten-X Homes in Miami, Denver, Dallas and Phoenix — all of which are projected to be strong residential markets in 2016, says Sharga. In the first quarter, Ten-X is expected to announce …

BETHESDA, MD. — Walker & Dunlop Inc. (NYSE: WD) has closed a $1.3 billion refinancing for Holiday Retirement, by far the largest financing transaction in the lender’s history. The seven-year, adjustable-rate loans through Freddie Mac are secured by a 78-property portfolio of Holiday’s independent living facilities in 30 states across the country. The lender structured and closed the financing in 47 days. Holiday is the second largest operator of seniors housing in the United States, managing over 300 communities, and the 10th largest owner, according to the American Seniors Housing Association based on data as of July 1, 2015. The company focuses mainly on independent living properties. The refinancing is nearly double the size of Walker & Dunlop’s second largest transaction, a $670 million loan in 2015. “Closing a transaction of this size in such a short time period required exceptional teamwork by Walker & Dunlop, Holiday Retirement and Freddie Mac,” says Willy Walker, chairman and CEO of Walker & Dunlop. For all of 2015, Walker & Dunlop completed $2.8 billion of seniors housing financing. “And we’re focused on continuing to expand our presence within this growing market,” says Walker. Russell Dey and Laura Beaton, both vice presidents, led the …

IRVINE, CALIF. — Irvine Co., a private real estate investor and master planner, has announced a $150 million reinvestment in Irvine Spectrum Center, a high-profile shopping center in Southern California. Irvine Co. will build 20 new stores within two buildings on the current site of Macy’s, which earlier this week announced the closure of 40 stores nationwide, including the one at Irvine Spectrum Center. “The Macy’s closing has been contemplated for months and has provided us with a unique opportunity to rebalance Irvine Spectrum Center with additional retail stores to ensure that it continues as one of Southern California’s premier shopping, dining and entertainment lifestyle destinations,” says Easther Liu, chief marketing officer for Irvine Co. Retail Properties. “As a master-planning company and long-term owner, we are always exploring how we evolve Irvine Spectrum Center’s vibrancy and relevancy to marry with our customers’ evolving tastes.” In addition to the new stores, Irvine Co. will upgrade the shopping center’s landscaping, add outdoor seating and shade areas, improve the parking garage and implement new amenities. The new retailers joining the shopping center haven’t been announced, but Irvine Spectrum Center’s current tenant mix includes Nordstrom, Target, H&M, Apple Store, Anthropologie, lululemon athletica, Forever 21, …

KANSAS CITY, MO. — Highwoods Properties Inc. (NYSE: HIW) has agreed to sell the historic, 1.3 million-square-foot Country Club Plaza in Kansas City. A joint venture of Taubman Centers Inc. (NYSE: TCO) and The Macerich Co. (NYSE: MAC) will buy the mixed-use center for $660 million. Originally constructed in 1922, Country Club Plaza is a 15-block, 55-acre mixed-use retail and office property in downtown Kansas City. The retail portion of the property includes 804,000 square feet of gross leasable area, and features 45 retailers such as Apple, H&M, Coach, Burberry and Lululemon, as well as restaurants including The Capital Grille and The Cheesecake Factory. The 468,000-square-foot office portion of the property is comprised of the 10-story Valencia tower, which serves as the worldwide headquarters of Lockton Cos., an insurance brokerage firm, and additional office space located above the ground-level retail. Eastdil Secured is the agent for the sale of the property, which is 94 percent occupied. Highwoods acquired Country Club Plaza in 1998 when it purchased the J.C. Nichols Co. for $544 million. Annual attendance at the plaza is 15 million, according to Visit KC, an economic development organization. The Taubman and Macerich joint venture is known as Country Club Plaza …