WAXAHACHIE, TEXAS — Newmark has arranged a $22 million bridge loan for Hunter’s Cove, a 192-unit multifamily community in Waxahachie, a southern suburb of Dallas. The property offers a mix of one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park and outdoor kitchen area. Andy Bratt and Spencer Seibring of Newmark secured the two-year loan, which features an 80 percent loan-to-purchase-price ratio, through Greystone. The borrower was not disclosed.
IRVING, TEXAS — Darling Ingredients, a provider of sustainable food, feed and fuel solutions, has signed a 95,322-square-foot office lease at 5601 N. MacArthur Blvd. within the Las Colinas business district in Irving. Beginning in December, the company will relocate from its 59,000-square-foot space at 251 O’Connor Ridge Blvd., which it has occupied for three decades. Bill McClung and Robbie Baty of Cushman & Wakefield represented Darling Ingredients in the lease negotiations. Matt Hurlbut and Nathan Durham of Transwestern represented the landlord, Massachusetts-based Brookwood Financial Partners LLC.
SAN ANTONIO — HPI Horne Storage, a joint venture between Austin-based HPI Real Estate Services & Investments and self-storage industry veteran Hugh Horne, is developing a 979-unit facility located at 10126 Potranco Road in San Antonio. The property will total 134,000 square feet of net rentable space and all its units are climate-controlled. The joint venture will own and operate the facility and a publicly traded self-storage REIT will manage it. Completion is slated for April 2019. SBS Construction is serving as general contractor and Arch-Con Architecture is providing design services. Elsewhere in San Antonio, the joint venture has another development site under contract at 12727 Vista Del Norte and is set to close on a third site near The Pearl in June.
CORPUS CHRISTI, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Sendera Baypoint, a 350-unit multifamily community in Corpus Christi. The property was built in 1998 and offers amenities such as two pools, a sports court, business center, putting green, pet park, 24-hour fitness center and outdoor picnic and grilling areas. Will Balthrope, Drew Kile and Jordan Featherston of IPA represented the seller, Austin-based Sendera Investment Group, in the transaction. The trio also procured the buyer, New York-based Castle Lanterra Properties.
EL PASO, TEXAS — ViaWest Group, a Phoenix-based development and management firm, has sold a portfolio of industrial properties in El Paso totaling 245,945 square feet across four assets. The portfolio was 40 percent leased when ViaWest Group acquired it in 2015 and was 94 percent leased at the time of sale. Arturo De La Mora and Jonathan Bryan of CBRE represented ViaWest Group in the sale. Bill Caparis, also with CBRE, represented the buyer, Stonelake Capital Partners.
SAN ANTONIO — Casey Development Ltd. is underway on construction of Sunset Professional Building, a 58,000-square-foot medical office project in north central San Antonio. Construction began in April and two tenants, BHS Physicians Network Inc. and WellMed, have already preleased space. Baxter Contracting LLC, a division of Casey Development, is serving as general contractor and GRG Architecture designed the building, which is scheduled to come on line in March 2019.
HUTTO, TEXAS — Flix Brewhouse, an entertainment concept that combines the movie theater experience with beer brewing, will open a new venue within The Co-Op District, a mixed-use development under construction in the northeastern Austin metro of Hutto. The number of screens has not yet been determined, but the venue will span approximately 39,000 square feet, according to Community Impact Newspaper. The Hutto location will be Flix Brewhouse’s fourth venue in Texas and ninth overall. Developed by MA Partners, the Co-Op District will include residential, retail and civic components upon completion.
SAN ANTONIO — H-E-B, the leading grocer in Texas by market share, will open an 871-acre distribution center in San Antonio, the city in which the grocery chain is based. Situated on the city’s east side, the facility will also allow for food processing and storage. According to local news outlet KSAT, the project is expected to create 300 new jobs over the next five years. Construction is scheduled to begin later this year with a target completion date of late 2019.
HOUSTON — Arbor Realty Trust Inc., a New York-based direct lender, has provided a $21.4 million Fannie Mae loan for the refinancing of Casa del Mar, a 354-unit multifamily community in Houston. The property is situated on Interstate 45 on the city’s north side. Floor plans include one- and two-bedroom units and amenities include two pools, a playground, on-site laundry facilities and a tennis court. The borrower was not disclosed.
ODESSA, TEXAS — NorthMarq Capital has arranged approximately $8 million in financing for the acquisition of Peppertree & Spanish Oak Apartments, a 180-unit multifamily community located in the West Texas city of Odessa. Amenities at the property include a pool, tennis and basketball courts, a business center and on-site laundry facilities. Carl Pankratz of NorthMarq arranged the financing on behalf of an undisclosed borrower through a bridge/mezzanine lender.
