Texas

Skanska Breaks Ground on $21M Agriculture & Life Science Building at Texas A&M University

by Haisten Willis November 17, 2015

COLLEGE STATION, TEXAS — Skanska USA has been awarded a $21 million contract with Texas A&M University to oversee the construction of the Agriculture & Life Science Building 4. The project broke ground on Nov. 13 and it will be completed in February 2017. The five-story, 80,000-square-foot building will house the university’s Department of Wildlife and Fisheries Sciences. The first three floors will include offices, conference rooms and dry work areas. The top two floors will include teaching and wet research laboratories. Kirskey Architecture is project architect.

November 17, 2015

Office Texas

Stream Realty Partners Completes 101,000 SF Office Building in San Antonio

by Haisten Willis November 16, 2015

SAN ANTONIO — Stream Realty Partners has completed an office development called One51 Office Centre. The speculative two-story, 101,000-square-foot office building is located in San Antonio’s Westover Hills submarket. Located at the south side of Highway 151, the Class A office building stretches across 8.3 acres. The property, owned and developed by Stream Realty, offers access to Highway 151, 50,000-square-foot plates, 615 parking spaces and green space with mature trees. Stream Realty’s Ryan Harrison and Carolyn Hinchey Shaw will lease the office property. Westover Hills houses 15 corporate campuses.

November 16, 2015

Loans Office Texas

NorthMarq Arranges $2.9M Acquisition Financing for Dallas Arts Center

by Haisten Willis November 16, 2015

DALLAS — Bart Dickinson of NorthMarq Capital’s Dallas office has arranged a $2.9 million acquisition loan for Dallas Arts Center, a 66,000-square-foot office property located at 2030 Main St. in Dallas’ central business district. The transaction was structured with a 15-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

November 16, 2015

Loans Multifamily Texas

ARA Newmark Completes Acquisition Financing for Apartment Complex in Houston

by Haisten Willis November 16, 2015

HOUSTON — Holly Minter, David Schwarz and Tip Strickland of ARA Newmark represented a partnership between Invictus and Oak Coast Properties in the acquisition of Falls at Clear Lake Apartments in Houston. Minter, Schwarz and Strickland also closed an 80 percent loan-to-value, 10-year fixed rate loan through ARA Newmark’s Fannie Mae DUS platform. The Class B apartment community was built in 1983, features 400 units and offers one- and two-bedroom apartment homes located in the Clear Lake submarket.

November 16, 2015

Office Texas

Boxer Property Negotiates Lease Renewal in Houston

by Haisten Willis November 16, 2015

HOUSTON — Boxer Property has concluded long-term lease negotiations on a lease renewal of more than 11,500 square feet with Bee Busy Learning Academy at 9896 Bissonnet St. in Houston. Shay Calhoun negotiated the agreement on behalf of Boxer Property and worked with Bee Busy in the lease renewal process. 9896 Bissonnet St., located in southwest Houston, spans six stories with 108,229 square feet of office space for rent. The building is located between the 610 Loop and suburbs including Sugar Land, Missouri City and Stafford. Nearby amenities include the Westchase Business District and Memorial Hermann Southwest Hospital. Bee Busy Learning Academy is a 501(c) (3) nonprofit organization.

November 16, 2015

Multifamily Texas

Berkadia Negotiates Sale of Multifamily Property in San Antonio

by Haisten Willis November 16, 2015

SAN ANTONIO — Berkadia has negotiated the sale of Eagle’s Nest Apartments, a multifamily property in San Antonio. Mike Miller, Chris Ross, Will Caruth and Cody Courtney of the firm’s San Antonio office completed the sale. The seller, Eagle Apartments Ltd., is based in San Antonio and owns many properties in the area. The buyer was a private investor from Orem, Utah who is a longtime property owner in Texas. Built in 1980, Eagle’s Nest Apartments is a 226-unit building offering studio, one- and two-bedroom floor plans. Unit amenities include balconies or patios, kitchens, walk-in closets, vaulted ceilings, fireplaces and hardwood floors. Community amenities include volleyball courts, barbeques, a swimming pool, clubhouse, laundry room and outside storage. Located at 5211 Fredericksburg Road near Loop 410, Eagle’s Nest Apartments is less than six miles from North Star Mall and one mile from Wonderland of the Americas Mall.

November 16, 2015

Office Texas

Buchanan Street Partners Acquires Tollway Plaza in Dallas

by Haisten Willis November 13, 2015

DALLAS — Buchanan Street Partners has acquired Tollway Plaza, an office property located at 15950 and 16000 N. Dallas Parkway in Dallas. This is Buchanan Street’s third purchase in the greater Dallas area this year. Tollway Plaza is a LEED-certified property consisting of two eight-story buildings totaling 370,073 square feet. Onsite amenities include a fitness center, conference facility and café. Buchanan Street is planning upgrades to Tollway Plaza’s campus lobbies, elevators and restrooms to match the design of the property exteriors. Tollway Plaza is located in the Dallas North Tollway submarket and was 95 percent leased at the time of the sale to tenants such as Travis Wolff LLP, Axxess Technology Solutions, HQ Global and Stewart Title. Tommy Nelson, Shannon Brown and Kenzie Killgore of CBRE will handle leasing for Tollway Plaza. HFF’s Dallas investment sales team represented the seller, which was unnamed. Buchanan Street Partners represented itself.

November 13, 2015

Industrial Loans Texas

Cohen Financial Secures $6M Refinancing Loan for Self-Storage Portfolio

by Haisten Willis November 13, 2015

LUFKIN, TEXAS — Cohen Financial has secured a $6 million loan to refinance a portfolio of five self-storage facilities located in the east Texas city of Lufkin. The portfolio consists of 1,719 units spanning 264,040 square feet. Each facility features recreational vehicle and boat storage spaces. Lufkin is located 120 miles north of Houston and 170 miles southeast of Dallas, and all of the storage facilities are within a six-mile radius. Kenneth Fox of Cohen Financial’s San Francisco office originated the fixed-rate loan through Symetra Insurance Co. A San Francisco Bay-area investor/owner group is the borrower.

November 13, 2015

Loans Multifamily Texas

BMC Capital Provides Trio of Loans in Metro Dallas, Houston and Beaumont

by Haisten Willis November 13, 2015

GARLAND, KATY AND BEAUMONT, TEXAS — BMC Capital has provided loans in the Texas cities of Garland, Katy and Beaumont totaling $8.2 million. In the first transaction, Tony Talamas of BMC Capital’s Houston office arranged a $1.7 million loan for the purchase of a 50-unit, garden-style multifamily property built in 1959 in Garland. The loan featured a 20-year term with 4.2 percent interest for five years, a 30-year amortization schedule and a step-down pre-payment premium. The non-recourse loan also featured one year of interest-only payments while the new owner makes upgrades and implements repairs/renovations to the property. The loan was arranged through one of BMC Capital’s correspondent agency relationships under the Freddie Mac Small Balance program. In the second transaction, Talamas arranged $4.5 million loan for the refinancing of an unanchored, multi-tenant retail strip center in Katy. The property was 57 percent occupied and 70 percent leased at the time of application. Talamas arranged a permanent loan with one of BMC Capital’s correspondent credit union relationships. The loan featured a five-year, fixed-rate term with 4.8 percent interest, 25-year amortization schedule and no pre-payment penalty. In the third transaction, Talamas arranged a $2 million loan for the purchase of a multifamily property …

November 13, 2015

Mixed-Use Retail Texas

CBRE Global Investors Fund Acquires Mixed-Use Center in Dallas

by Haisten Willis November 13, 2015

DALLAS — A fund sponsored by CBRE Global Investors has acquired Mockingbird Station, a Class A mixed-use lifestyle center in Dallas totaling 560,468 square feet. The development includes retail space, an office tower and luxury loft-style apartments. Located at 5307, 5321 and 5331 E. Mockingbird Lane, the property sits just north of downtown. The development is built around Mockingbird Station, a stop for the DART light rail system serving the Dallas-Fort Worth area, and is also located directly off I-75. Mockingbird Station includes a 10-story, 148,878-square-foot office tower that is 94 percent occupied, as well as an adjacent parking garage containing 177 spaces. The 197,367-square-foot retail component, which is 92 percent occupied, includes restaurants, an eight-screen movie theater, a comedy club and several retailers. Mockingbird Station also includes 211 apartments, which are 96.7 percent occupied. The team is planning upgrades to select components throughout the units, which include the installation of updated solid surface countertops, tile backsplashes, premium fixtures and washer/dryers. The team is also planning to upgrade the property’s entranceway, leasing office and amenities.

November 13, 2015

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