MANSFIELD, TEXAS — Silver Arch Capital Partners has provided a $12.6 million loan secured by an 81-acre development site in Mansfield. The borrower, Dallas-based development group Geyer Morris Co., was under contract to acquire the site and the two-year interest-only funding was utilized to complete the acquisition. The vacant site is situated along US 287 and Broad Street and is entitled for the development of a 500,000-square-foot retail center, slated for completion in the spring of 2018.
DALLAS — Capital Senior Ventures, a subsidiary of Baltimore-based Capital Funding Group, has acquired 33 skilled nursing facilities totaling 4,200 beds in south-central Texas, plus some shovel-ready development sites, for an undisclosed sum. Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, advised the seller, Regency Post-Acute Healthcare System, in the deal. According to IPA, the transaction is the largest seniors housing sale in Texas history. Joshua Jandris, Mark Myers, Peyton Stanforth and Charles Hilding led the Dallas-based IPA team.
ENID, OKLA. — GBT Realty Corp. has acquired an 11.3-acre retail site in Enid for the development of a 100,000-square-foot retail center. Situated across from Oakwood Mall, the site was formerly home to Walmart and a distribution center for the regional home and garden retailer Atwoods Ranch and Home. GBT acquired the site from Atwood’s Distribution LLC for $3.9 million. Construction is underway with the demolition of the existing distribution center.
RICHARDSON, TEXAS — Alliance Architects Inc. has been awarded shell and interior design services for the expansion of DataBank’s facility in Richardson. The building is located within Digital Realty’s Dallas Data Center Park campus. In addition to 11,000 square feet of data hall dedicated to customer hardware, the 16,000-square-foot expansion will also feature technical areas, offices and customizable storage space.
BEE CAVE, TEXAS — Disney Investment Group (DIG) has arranged the sale of Shops at the Galleria, a 537,685-square-foot retail center located in the Austin suburb of Bee Cave. The center was 99 percent leased at the time of sale to tenants including Lowe’s Home Improvement, Best Buy, Marshall’s, HomeGoods, Cost Plus World Market, Michaels, PetSmart, Office Max, Old Navy and Ulta Beauty. DIG procured the buyer, Chicago-based InvenTrust Properties Corp., and CBRE represented the seller, Christopher Commercial Inc., in the transaction.
AUSTIN, TEXAS — Cielo Property Group has purchased a five-story office building located at 900 Congress Ave. in downtown Austin. The 64,000-square-foot building includes nine levels of off-site accessory parking at 816 Colorado St. Cielo purchased a 15-story office tower located across the street at 823 Congress Ave. in 2014. The company plans to upgrade the Art Deco-style building with a renovation of the lobby and elevators, as well as improvements to its streetscape and canopy. This is the sixth downtown Austin property that Cielo has acquired since it was founded in 2010. The company also owns three historic mixed-use buildings at 315, 319 and 323 Congress Ave., as well as 601 W. Third St., where it plans to break ground on a 29-story office tower called Third + Shoal later this year.
AUSTIN, TEXAS — Binswanger has arranged the sale of a 204,346-square-foot office-flex building located on 18.9 acres at 6800 Burleson Road in Austin. Holmes Davis of Binswanger’s Dallas office represented the seller, DivcoWest Real Estate Services Inc. Roger Shipp represented the buyer, Capital Commercial Investments, internally. Built in 1985 and renovated in 1995, the property was a part of the former Lockheed Martin campus near Austin’s-Bergstrom International Airport.
ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Woodlands of Arlington, a 264-unit apartment property located in Arlington. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a Dallas-based partnership. Silva and Braly also secured the buyer, a private real estate company based in Texas. Woodlands of Arlington is located at 2800 Lynnwood Drive. The new owner plans to renovate the property.
KATY, TEXAS — Dallas-based Front Burner Restaurants will break ground on a Whiskey Cake Kitchen & Bar location in Katy at the 120-acre Verde Parc. The 8,500-square-foot restaurant will open this fall and will be situated on a 2.5-acre tract fronting I-10. Whiskey Cake Kitchen & Bar offers entrées like mesquite grilled steak and fish and smoked duck, as well as appetizers like green tomatoes and deviled eggs. The bar is stocked with 24 craft beers, 100 small batch bourbons, whiskeys and scotch and 30 varieties of wine. Whiskey Cake currently operates locations in northwest San Antonio, Plano and northwest Oklahoma City. Parkside NEC Grand Parkway/I-10 Ltd. was the seller. Hugh Ruggles of NewQuest Properties was the deal’s sole broker. Parkside Capital bought the Verde Parc land in January 2014 from Indianapolis-based Simon Property Group.
BROKEN ARROW, OKLA. — The Signorelli Co. has begun construction of The Reserve at Aspen Creek, a 240-unit apartment complex in Broken Arrow expected to open in early 2017. The community will be the residential component of The Shops at Aspen Creek, a 400,000-square-foot shopping, dining and entertainment destination planned to include multiple restaurants and stores in addition to multifamily residences. The entertainment anchor is the 16-screen Warren Theatre, which opened in 2015. Tulsa-based Architects Collective designed the apartments. Trinity Multifamily, which acquired the 13-acre site in 2014, will manage the apartment community. The Reserve at Aspen Creek will consist of 20 buildings with amenities including a saltwater pool, gazebos and fire pits, workout facilities and a business center. The interiors will feature stainless steel appliances and granite countertops.