SAN ANTONIO — BMC Capital has arranged a $5.2 million loan for the purchase of Hidden Meadow Apartments, a 159-unit multifamily complex located at 5959 Wurzbach Road in San Antonio. Keith Van Arsdale of BMC secured the non-recourse loan, which features a 5.1 percent fixed interest rate and a 30-year amortization schedule. The names of the lender and borrower were not disclosed.
TYLER, TEXAS — Civitas Senior Living, a Fort Worth-based seniors development and management firm, has acquired The Hamptons Retirement Community at Greenridge, located at 4250 Old Omen Road in Tyler, a city approximately 100 miles east of Dallas. The deal adds 120 independent and 56 assisted living apartments, as well as 30 cottage-style residences and 38 memory care suites, to Civitas’ inventory.
CARROLLTON, TEXAS — Cushman & Wakefield has arranged a 59,859-square-foot lease at Metroplex Tech Center, a 105,000-square-foot office property located at 3000 Kellway Drive in the north Dallas suburb of Carrollton. Dean Collins and Mark Collins of Cushman & Wakefield represented the subleasing tenant, mortgage loan servicing firm Fay Servicing, in the transaction. Bret Hefton and Greg Langston of Avison Young represented the original tenant, Securus Technologies, which leased the space from Hudson Advisors, the property owner.
FORT WORTH, TEXAS — Henry S. Miller Brokerage Co. has closed the sale of a 64,292-square-foot, two-story building located at 15100 FAA Blvd. in Fort Worth. An AT&T call center most recently occupied the Class B office property, which is part of CentrePoint Business Park near Airport Freeway and the President George Bush Turnpike. Jim Turano and Lily Chang of HSM represented the seller, Lindy-Zell AT&T Texas LLC. The representative of the buyer, CCI-15100 FAA, and the sales price were not disclosed.
DALLAS — Younger Partners has negotiated three office leases totaling roughly 5,000 square feet at One Stratford Park, an office building located at 18383 Preston Road in north Dallas. Included among the new tenants is forensics consulting firm ProNet Group Inc., which leased 1,969 square feet, and Tilford Ltd, which leased 1,962 square feet. Sean Dalton and Byron McCoy of Younger Partners represented the landlord in all three deals. The three leases bring One Stratford Park to full occupancy.
RICHARDSON, TEXAS — Mycon General Contractors has been awarded the preconstruction and general contracting rights to build a $6.3 million addition to Woodcreek Church, a 27.1-acre property located at 3400 E. Renner Road in the north Dallas suburb of Richardson. The expansion will comprise 28,654 square feet and will be used for educational purposes. Completion is scheduled for fall 2017.
ARLINGTON, TEXAS — Bradford Commercial Real Estate Services has negotiated a 30,000-square-foot industrial sublease in 360 Mayfield Business Center, located at 3460 S. Watson Road in Arlington. Michael Spain of Bradford represented the sublessor, consulting firm Anew Business Solutions Inc., and Shane Clark of PSC Consulting Services represented the sublessee.
TULSA, OKLA. — MCR has finished exterior renovations of the Hampton Inn & Suites Tulsa-South Bixby, a 102-room, select-service hotel located at 8220 S. Regal Blvd. next to the Spirit Bank Event Center in Tulsa. The renovations included the additions of new fencing, signage and patio lounge furniture, as well as a fresh paint job.
DALLAS — Marcus & Millichap’s (NYSE: MMI) Dallas-based multifamily investment sales team has closed the sale of six multifamily assets within the state of Texas totaling $80.5 million. The communities contain a total of 1,164 units. Four of the properties reside within the Dallas-Fort Worth area, known as the Metroplex, while another is situated 60 miles northeast of Dallas in Commerce, and the other is in Waco. The Metroplex-area properties include the 380-unit Spring Lake in Haltom City, the 306-unit Tradewind in Mesquite, the 200-unit Village at the Crossroads in Irving and the 76-unit Oaks Branch in Garland. “The Metroplex’s diverse and growing economy continues to attract investors, creating increased buyer competition for apartment assets and accelerating deal flow,” says Nick Fluellen, a member of Marcus & Millichap’s multifamily investment sales team. “Local investors are particularly focused on properties with some value-add component, as was the case with these assets.” The remaining two properties are the 128-unit Bradford Place in Commerce and the Village Condominiums, a 74-unit apartment asset in Waco. “All of the properties provide new ownership with excellent opportunities to add value in various ways, including the continuation or implementation of strategic upgrade plans,” adds Bard Hoover, who, …
DALLAS — Revere Capital, a Dallas-based lender, has announced the establishment of Revere Credit Opportunities Fund III LP, a $350 million fund for the origination and acquisition of commercial real estate debt. Revere Capital’s third fund of this type, it is targeted to originate two-to five-year loans for investors and developers of all property types, excluding land. Loans from the fund are expected to range from $3 million to $30 million.