ENNIS, TEXAS — Price Distributing Co., a distributor of alcoholic beverages, will relocate from its current headquarters at 1212 Clay St. in the southern Dallas metro of Ennis to a new, 70,000-square-foot property, also in Ennis. St. Louis-based HDA Architects is designing the new property, which will serve as both Price’s primary office space and distribution center. A timetable for construction has not yet been established.
BEE CAVE, TEXAS — HFF has brokered the sale of Park Manor at Bee Cave, a 140-bed acute-care skilled nursing facility in the western Austin suburb of Bee Cave. Built in 2014, the property’s location near the 106-bed Baylor Scott & White Medical Center makes it the only skilled nursing facility within a four-mile radius. David Fasano, Ryan Maconachy and Chad Lavender of HFF represented the seller, Dallas-based Meridian Realty Advisors, in the transaction.
LEWISVILLE, TEXAS — A partnership between Baltimore-based Alex. Brown Realty Inc. and Dallas-based TCOR Hotel Partners has acquired the 188-room TownePlace Suites by Marriott hotel in Lewisville, a northern suburb of Dallas. The hotel recently underwent a $1 million renovation, which included upgrades to the lobby and guestrooms. Dallas-based Inwood National Bank provided financing for the acquisition. The seller and sales price were not disclosed.
MCALLEN, TEXAS — JLL has brokered the sale of the Sharyland Business Park portfolio, a 10-property portfolio of industrial assets totaling 1.6 million square feet in the Rio Grande Valley metro of McAllen. The sale includes 111 acres of developable land. The properties are located near the Anzalduas National Crossing and the McAllen International Airport and were approximately 95 percent leased at the time of sale. Laredo, Texas-based Killiam Development Ltd. acquired the portfolio from IDI Logistics Inc., an industrial developer with regional offices around the country. Dustin Volz and John Huguenard of JLL brokered the deal.
HOUSTON — HFF has arranged the sale of 500 Century Plaza, a 49,640-square-foot industrial property in Houston. Built in 1984, the property features office space, 14 grade-level doors and 14-foot clear heights. Trent Agnew, Rusty Hamlyn and Johnny Kight of HFF represented the seller, a joint venture between Archway Properties and NewQuest Properties, in the transaction. Houston-based Finial Group purchased the property for an undisclosed price.
FLOWER MOUND, TEXAS — Ridgeline Capital Partners has sold Prairie View Medical Plaza, a 43,119-square-foot medical office building in the Dallas-Fort Worth (DFW) metro of Flower Mound. Built in 2013, the property was 100 percent occupied at the time of sale to tenants providing dermatology, pediatrics and dental services. The property includes a lab, diagnostics center and a pharmacy. The buyer was not disclosed.
WACO, TEXAS — The PPA Group, an Austin-based investment firm, has sold Arlington Farms, a 168-unit multifamily community located at 1800 Primrose Drive in Waco. The sale includes the 15 acres on which the property is situated. Amenities include a pool, basketball court, tennis court and on-site laundry facilities. Moses Siller and Scott LaMontagne of JLL represented The PPA Group in the sale of the property, which was purchased by TTHFD Investments LLC.
CONROE, TEXAS — NAI Partners has negotiated a 14,732-square-foot industrial lease at 13019 Crockett Martin Road in Conroe, about 40 miles north of Houston. Jake Wilkinson and Darren O’Conor of NAI Partners represented the landlord, Tee Total Engineering Expectations Inc. Kyle Fischer of Belvoir Real Estate Group represented the tenant, KRO Energy Products, a metal fabrication firm.
DALLAS — CBRE has arranged $120.2 million in acquisition financing for a portfolio of six seniors housing properties totaling 1,104 units in the Dallas area. About 37 percent of the portfolio comprises skilled nursing units, 28 percent independent units, 24 percent assisted living units and 11 percent memory care units. The properties range in size from 153 to 267 units and are approximately 35 years old. Aron Will of CBRE secured the financing, which included $39.2 million through Freddie Mac and $81 million through a pair of undisclosed national banks. Lisa Widmier and Imran Ahmed of CBRE represented the buyer, a joint venture between Iowa-based seniors housing operator Life Care Services and Aspect Investment Partners, an investment advisory firm based in Dubai.
ARLINGTON AND FORT WORTH, TEXAS — KeyBank Real Estate Capital has closed $34.9 million in Fannie Mae financing for the acquisition of two multifamily assets located in the Dallas-Fort Worth (DFW) area. The company originated $18.9 million for Bardin Greene Apartments, a 285-unit property in Arlington that was built in 2001; and $16 million for Lost Spurs Ranch Apartments, a 280-unit community in Fort Worth. Chris Black and Caleb Marten of KeyBank originated the loans, which feature 10-year terms, five years of interest-only payments and 30-year amortization schedules. The borrowers were not disclosed.
