WILLOW PARK, TEXAS — Olympus Property has acquired The Village at Crown Park, a 258-unit apartment community in Willow Park, located about 25 miles west of Fort Worth. Built in 2015, the Class A property includes 50 townhomes and features two pools, outdoor grilling areas, a children’s play area, basketball and volleyball courts, fitness center, movie theater and a game room. The seller was not disclosed.
BENBROOK, TEXAS — Transwestern has negotiated the sale of a 76,625-square-foot industrial asset located in 7471 Benbrook Parkway in Benbrook, located on the southern outskirts of Fort Worth. Todd Hawpe, Jack Huff and Grant Huff of Transwestern represented the seller, Mayfair Investments LLC, and procured the buyer, Texas-based investment firm Fort Capital.
GRAHAM, TEXAS — Stream Realty Partners has brokered the sale-leaseback of a 44,833-square-foot office/industrial property in Graham, about 90 miles northwest of Fort Worth. Todd Noonan of Stream represented the seller/tenant, Dallas-based digital solutions company SpotSee, in the transaction. The City of Economic Improvement Corp. purchased the property for an undisclosed price.
HOUSTON — Chicago-based LaSalle Investment Management has acquired Memorial Hermann Medical Plaza, a 510,000-square-foot medical office property in Houston. The 28-story building is located within the Texas Medical Center on the city’s south side. The property, which features retail amenities and a 13-level parking garage, was 99 percent leased at the time of sale. Scott Galloway, Colby Mueck and Rusty Tamlyn of HFF represented the seller, a partnership between Mischer Healthcare, Memorial Hermann Health System and other private investors, in the transaction.
CEDAR HILL, TEXAS — San Antonio-based Mason Joseph Co. Inc. has arranged a $42.5 million construction and permanent financing loan for Aspire at Preston Trails, an apartment community that will be located in the Dallas metro of Cedar Hill. The property will feature 299 market-rate units across nine garden-style buildings. Mason Joseph placed the loan, which features a fixed interest rate for the 22-month construction period and subsequent 40-year term, through HUD’s 221(d)(4) program, on behalf of the developers, Covenant Development LLC and Stewart Residential LLC. Humphreys & Partners is serving as architect for the project and Jordan Foster Construction is serving as general contractor. The property broke ground in early July.
HOUSTON — Bellomy & Co. has brokered the sale of Alief Westwood Storage, a 246-unit self-storage facility located about 16 miles southwest of downtown Houston. Situated on 5.3 acres with room for expansion, the property features more than 64,000 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a Houston-based family partnership, in the transaction. The duo also procured the undisclosed, Austin-based buyer.
HOUSTON — Full-service commercial real estate firm Finial Group has negotiated the sale of a 52,682-square-foot manufacturing facility located at 6410 Langfield Road in northwest Houston. The Class A facility is crane-served and includes 10,000 square feet of office space. Keith Bilski and Dylan Schopper of Finial Group represented the seller, Buks Global Enterprises, which occupies the space, in the transaction. Ron Roberson of Caldwell Cos. represented the buyer, S&R Realty Group LLC.
WALLER, TEXAS — Wolff Cos. has unveiled plans for a 251-acre mixed-use project along U.S. Highway 290 in Waller, a northwestern suburb of Houston. Wolff will develop the infrastructure around the site and has developed a preliminary land plan. The Houston-based company calculates that this plan has the capacity for 1.3 million square feet of industrial space, 800,000 square feet of office space and 172,000 square feet of retail space. The project is part of a larger development that will bring more than 1,000 single-family homes to the site. A timeline for construction of the commercial components has not yet been established.
OKLAHOMA CITY — Oklahoma City-based investment firm Zerby Partners has acquired Lake Park Tower, a 105,026-square-foot office building in Oklahoma City, for $2.5 million. Amy Dunn, Brent Conway, Jim Austin, Tom Lange and Clay Harris of CBRE represented the seller, Lake Park Tower Cotter LLC, in the transaction. Lake Park Tower, a Class B property, was built in 1983.
HOUSTON — Marcus & Millichap has arranged the sale of Jacinto Palms, a 123-unit apartment property in Houston. The property features a pool and a playground. Jeffrey Fript, Christian Mazzini and Ryan Armstrong of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Fript and Armstrong also procured the buyer, another limited liability company.
