KINGWOOD, TEXAS — Origin Investments has completed the disposition of Kingwood Medical Arts, a medical office building located at 300-350 Kingwood Medical Drive in Kingwood. A healthcare REIT acquired the property for an undisclosed price. The 90,000-square-foot property is anchored by a 30,000-square-foot surgical center operated by a venture between Memorial Hermann Health System and United Surgical Partners.
OKLAHOMA CITY — Harborview Capital Partners, on behalf of a California-based client, has arranged a $2.6 million loan for the acquisition of a multifamily property in Oklahoma City. The borrower will use the Freddie Mac Small Balance loan to purchase a 68-unit multifamily community. The 10-year, fixed-rate loan features 36 months of interest-only payments. Jeff Fuchs of Harborview Capital negotiated the loan.
ALLEN, TEXAS — Adolfson & Peterson Construction has completed construction of Christian Care Senior Living Community, an 88-unit independent living, assisted living and memory care community in the Dallas suburb of Allen. Christian Care Centers owns the community, which REES Architects designed. Christian Care Senior Living Community features 22 independent living cottages, 32 assisted living units and 34 memory care units in a 72,000-square-foot, two-story building. Christian Care Centers is a nonprofit, faith-based owner and operator of several communities in the Metroplex area. The company is headquartered in Mesquite, Texas. Adolfson & Peterson Construction is a construction firm with offices in Charlotte, Dallas, Denver, Los Angeles, Minneapolis, Phoenix, Portland, Ore., and Tacoma, Wash.
FORT WORTH, TEXAS — The Davis Cos. and Marquette Cos. have completed the disposition of Verandas at Cityview, an apartment community situated on 15 acres in Fort Worth. The 314-unit property sold for an undisclosed price. The community features a mix of apartment layouts, ranging from one to three bedrooms. Community amenities include an outdoor swimming pool, spa, 24-hour fitness center, clubhouse with television lounge, business center, laundry facility and picnic area with barbecues. Sean Mabarak of SPI Advisory represented the undisclosed buyer, while Dirk Goris, Ryan Reid and Jeremy Faltys of CBRE Multifamily represented the sellers in the deal.
AUSTIN, TEXAS — Presidium Group has acquired two student housing properties in Austin, University Estates and University Village, for an undisclosed price. University Estates and University Village were built between 1997 and 2001, respectively, and are located in southeast Austin on The University of Texas at Austin shuttle route. The communities feature resort-style pools, fitness centers, clubhouses, basketball courts, tennis courts, computer labs and private student rooms. Combined the properties offer 846 units, totaling 2,700 beds. The name of the seller was not released.
PLANO, TEXAS — Rubicon Representation has arranged the sale of an office building located at 4011 W. Plano Parkway in Plano. Wells Asset Management sold the 29,352-square-foot property to a local investment partnership for an undisclosed price. Current tenants at the property include The Einstein School and Farmers Insurance, and Sea Link International will relocate its office to the property from downtown Dallas. Daniel Miller and Graham Perry of Rubicon Representation represented the buyer and new tenant, while the seller had in-house representation.
CONROE, TEXAS — Harborview Capital Partners has closed $25.1 million in refinancing for two multifamily properties in Conroe. The borrower was an Arkansas-based client. Both non-recourse loans were refinanced through HUD’s 223(a)(7) program and feature interest rates fixed for 35 and 40 years. Avi Begun of Harborview Capital originated the transactions.
ADDISON, TEXAS — Dougherty Mortgage has closed a $26 million Fannie Mae loan for the acquisition of Waterford Court, a multifamily property located in Addison. Dougherty’s Minneapolis office arranged the 10-year loan with five years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, Waterford Court LLC. The apartment community features 196 market-rate apartments in one-, two- and three-bedroom layouts with patios or balconies and attached garages. On-site amenities include a fitness center, outdoor pool and a courtyard.
AUSTIN, TEXAS — Muskin Commercial has arranged the sale of The Place at West Village Apartments, an apartment building located at 793 W. William Cannon Drive in Austin. 739 W. William Cannon LLC acquired the 255-unit property from Cooper’s Hill Apartments LLLP for an undisclosed price. The community features a variety of one- and two-bedroom units averaging 699 square feet, as well as a fitness center, swimming pool, laundry facilities and a dog park. IBC Bank of Austin provided acquisition financing for the purchase.
HOUSTON AND SPRING BRANCH, TEXAS — LMI Capital has arranged acquisition and refinance loans for three separate properties in the Greater Houston area. Brandon Brown of LMI originated a five-year, $5.2 million, fixed-rate loan for a 90-unit multifamily asset in Spring Branch; Kurt Dennis of LMI originated a five-year, fixed-rate loan with flexible prepayment for the acquisition of a 20,000-square-foot office building in Houston’s Kingwood submarket; and Jamie Mullin of LMI placed a 10-year, fixed-rate, $7.5 million loan for a 250-unit asset in Houston’s Braeswood submarket.