Texas

Peak Real Estate Management Acquires 289-Unit Apartment Community in West Austin

by Amy Works February 3, 2017

AUSTIN, TEXAS — Peak Real Estate Management has purchased Promesa, an apartment community located in west Austin, for an undisclosed price. At the time of sale, the 289-unit multifamily property was 93 percent occupied. On-site amenities include a resort-style pool with cabana lounge seating and outdoor cooking stations, demonstration kitchen, media and gaming rooms, business center with a private conference room and fitness center. Pat Jones of ARA Newmark represented the undisclosed seller and procured the buyer in the deal.

February 3, 2017

Metropolitan Capital Advisors Arranges $12.7M Acquisition Loan for Shopping Center in McKinney, Texas

by Amy Works February 3, 2017

MCKINNEY, TEXAS — Metropolitan Capital Advisors has arranged a $12.7 million loan for the acquisition of Craig Crossing Shopping Center in McKinney. The loan features a 6.13 percent fixed interest rate with interest-only payments throughout the loan term at 65 percent loan-to-value. Todd McNeill of Metropolitan Capital Advisors arranged the loan for the undisclosed borrower.

February 3, 2017

Retail Texas

Marcus & Millichap Negotiates Sale of 50,937 SF Retail Property in Houston

by Amy Works February 3, 2017

HOUSTON — Marcus & Millichap brokered the sale of Ponderosa Shopping Center, a retail property located at 16300 Kuykendahl Road in Houston. An individual/personal trust sold the 50,937-square-foot property for an undisclosed price. At the time of sale, the property, which was built in 1983, was 61 percent leased. Jerry Goldstein of Marcus & Millichap represented the seller and buyer, a limited liability company, in the deal.

February 3, 2017

Office Texas

Buchanan Street Partners Buys 160,000 SF Office Building in Houston

by Amy Works February 3, 2017

HOUSTON — Buchanan Street Partners has acquired Sam Houston Crossing II, an office building located at 10344 Sam Houston Parkway Drive in Houston. Duke Realty sold the 160,000-square-foot building for an undisclosed price. Forum Energy Technologies, PEMEX and First American Title Co. occupy the three-story office building. Jared Chua of CBRE represented the seller, while Buchanan Street was self-represented in the transaction.

February 3, 2017

Brownsville-Nursing-Rehab-Brownsville-TX

Loans Multifamily Seniors Housing Texas

KeyBank Provides $84.7M in HUD Financing for Six-Property Seniors Housing Portfolio in Texas

by Amy Works February 2, 2017

BROWNSVILLE, WESLACO, HARLINGEN AND EDINBURG, TEXAS — KeyBank Real Estate Capital has provided a total of $84.7 million in HUD financing for a six-property seniors housing portfolio located across Texas. Totaling 722 units, the portfolio includes Brownsville Nursing and Rehabilitation and Ebony Lake Nursing and Rehabilitation in Brownsville; Weslaco Nursing and Rehabilitation in Weslaco; Harlingen Nursing and Rehabilitation in Harlingen; and Edinburg Nursing and Rehabilitation and Windsor Arbor View in Edinburg. John Randolph of Key’s Commercial Mortgage Group arranged the financing through the HUD 232/223(f) mortgage insurance program for the undisclosed borrower. Loan proceeds were used to refinance existing debt.

February 2, 2017

Industrial Texas

Medline Industries Opens $59M Distribution Center in Metro Dallas

by Amy Works February 2, 2017

WILMER, TEXAS — Medline Industries has opened an 800,000-square-foot distribution center in Wilmer, a suburb of Dallas. The $59 million facility is located at Medline Drive and Interstate 45 within Sunridge Business Center. The facility currently employs 55 people. Medline is a manufacturer and distributor of medical products.

February 2, 2017

Multifamily Texas

Marcus & Millichap Facilitates Sale of 16-Unit Apartment Building in Dallas

by Amy Works February 2, 2017

DALLAS — Marcus & Millichap has arranged the sale of Reiger Place, an apartment building located at 4515 Reiger Ave. in Dallas. An undisclosed partnership acquired the 16-unit property for an undisclosed price. Constructed in 1955, the property offers one-bedroom/one-bath, 725-square-foot units. Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller, a limited liability company, while Fluellen, Hoover and Sean Scott, also of Marcus & Millichap, procured the buyer in the deal.

February 2, 2017

Industrial Texas

Cypressbrook Arranges 40,352 SF Industrial Lease in Houston

by Amy Works February 2, 2017

HOUSTON — Cypressbrook Co. has arranged the lease of industrial space at Prologis Pine Forest, an industrial park located at 575 W. 38th St. in Houston. SRG Ventures, a custom furniture maker, will occupy 40,352 square feet of space at the development. John Hornbuckle and Joyce Sterling of Cypressbrook Co. represented the tenant, while Beau Kaleel and Allison Hall of Cushman & Wakefield represented the landlord, PrologisWN2 LLC, in the transaction.

February 2, 2017

Office Texas

Colliers Brokers 30,137 SF Office Lease in Uptown Dallas

by Amy Works February 2, 2017

DALLAS — Colliers International has arranged the lease of office space at Rosewood Court, an office building located at 2101 Cedar Springs Road in Dallas’ Uptown district. CyrusOne LLC, a data center solutions and colocation services provider, will relocate its corporate headquarters to 30,137 square feet at the property. David Wetherington, Tyler Howarth and Chelsea Story of Colliers International represented the tenant, while Mike Wyatt and Travis Boothe of Cushman & Wakefield represented the undisclosed landlord in the deal.

February 2, 2017

Retail Texas

Vestar Acquires New 43,134 SF Retail Center in Metro Dallas

by Amy Works February 1, 2017

ALLEN, TEXAS — Vestar has acquired Twin Creeks Marketplace, a grocery-anchored neighborhood retail center located at 1265 W. Exchange Parkway in Allen, a suburb of Dallas, for an undisclosed price. Sprouts Farmers Market, Verizon Wireless, Starbucks Coffee, Advancial Credit Union, Luxe Nails, Studio Smiles and ATI Physical Therapy occupy the 43,134-square-foot property, which was developed in 2016. Brandon Beeson of EDGE Capital Markets represented the seller, StreetLevel Investments, in the deal. Vestar operates more than 26 million square feet of premium retail space throughout the Western United States.

February 1, 2017

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