CLEVELAND — Cleveland-based KeyBank Real Estate Capital has closed a $90.8 million FHA 232/223(f) loan for the refinancing of a portfolio of seniors housing properties in Texas. The portfolio consists of eight properties totaling 541 units and 1,063 beds across various markets in Texas. The FHA loan proceeds were used to pay off the balance of a $315 million bridge loan, which was provided by a KeyBank-led syndicate and used to fund the acquisition of 30 Texas-based skilled nursing facilities. The borrower was a joint venture led by Capital Senior Ventures and BlueMountain Capital Management. Grant Saunders and Peter Trazzera of KeyBank structured the initial syndicated bank loan.
FLOWER MOUND, TEXAS — The Silver Group, a California-based brokerage firm specializing in the sale of single-tenant properties, has negotiated the sale of a 60,000-square-foot store leased to Tom Thumb in the Dallas metro of Flower Mound. The store, whose lease is guaranteed by The Albertson Cos. LLC, anchors Cross Timbers Village shopping center and houses a Starbucks and sushi bar. The buyer, seller and sales price were not disclosed.
BOERNE, TEXAS — Weitzman has brokered the sale of a two-story building located at 152-170 S. Main St. in Boerne, a northwestern suburb of San Antonio. The property consists of 12,000 square feet of street-level retail space leased to three different tenants and 3,300 square feet of second-level space operating as a boutique hotel. Ramey Mainstreet LLC, a local investor, purchased the property for an undisclosed price. The seller was not disclosed. Charlie Riddle of Weitzman brokered the transaction.
GUN BARREL CITY, TEXAS — STRIVE has arranged the sale of Gun Barrel City Shopping Center, a 4,800-square-foot retail property in Gun Barrel City, about 60 miles southeast of Dallas. The two-tenant property was fully leased to Sprint and Cash Store at the time of sale. Will Merritt of STRIVE represented the seller in the transaction. Merritt and Jason Vitorino, also with STRIVE, procured the buyer. Both parties were Texas-based investors that requested anonymity.
AUSTIN, TEXAS — Ridge, the industrial development arm of Transwestern Development Co., has completed construction of a 351,171-square-foot industrial building within Southpark Commerce Center in southeast Austin. The property, located just off Interstate 35 within 10 miles of downtown Austin and Austin International Airport, was developed on a speculative basis. Southpark Commerce Center will span more than 2.3 million square feet at full build-out.
DALLAS — Colliers International has brokered the sale of a 472,284-square-foot distribution center located at 2020 Singleton Road in west Dallas. The rail-served property offers convenient access to Interstates 30 and 35 and the Dallas North Tollway. Chris Teesdale and Tom Pearson of Colliers International represented the seller, an Ohio-based freight and logistics firm, in the transaction. Teesdale and Pearons also procured the buyer, 2020 Singleton Blvd. LLC.
IRVING, TEXAS — Eleven new food-and-drink-based concepts will open this month at Toyota Music Factory, an entertainment destination located within the Las Colinas district in Irving. New restaurants include Highway 61 South, a barbecue restaurant; Kabuki, a Japanese restaurant; and Texas Jam House, an eatery specializing in Southern cuisine. Night club Martini Ranch and frozen fruit bar Pop Factory by Maxfrut, among others, will also open stores within the destination, which will ultimately consist of 500,000 square feet of retail, restaurant and office space. An eight-screen Alamo Drafthouse Cinema will also open at Toyota Music Factory in April.
COPPELL, TEXAS — PickUp USA Fitness, a fitness chain dedicated to basketball, has opened a 16,936-square-foot gym at Sandy Lake Business Center in Coppell, a northwestern suburb of Dallas. The location was formerly leased to a Taekwondo studio. The gym will feature weights and cardio machines in addition to numerous courts for pick-up games. Private lessons and classes are also available. Allyson Yost and Cole Hooper of Colliers International represented Mosely Basketball, the franchise operator of the Coppell gym, in the lease negotiations. Erik Blaise of Bradford Commercial Real Estate Services represented the landlord. PickUp USA Fitness also operates franchises in Arizona, Florida and Nevada.
HOUSTON — Lee & Associates has negotiated a 49,000-square-foot industrial lease at 4514 Brittmoore Road in northwest Houston. Preston Yaggi and Stephen Kuper of Lee & Associates represented the landlord, Chapman & Cole, in the lease negotiations. Travis Land and Nick Peterson of NAI Partners represented the tenant, BiSN Oil Tools LLC, a provider of sealing solutions for the oil and gas business.
AUSTIN, TEXAS — Dallas-based StreetLights Residential will develop a 373-unit multifamily community within the 129-acre Austin Presidio development situated on Austin’s northwest side. The property, which has roughly $50 million in project costs, will be situated on 8.5 acres at the corner of Lakeline Mall Boulevard and Lyndhurst Street. The new community will be StreetLights’ second at Austin Presidio following The Michael, a 415-unit community that was completed in September 2016 and is approaching full occupancy. Steve Williamson of Transwestern represented StreetLights Residential in the land sale. Williamson also represented the seller, Austin 129 LLC, in that transaction.