HOUSTON — Travis Land of NAI Partners represented Hoffman Glass Family Ltd. in the acquisition of an 18,037-square-foot industrial manufacturing facility located on two acres at 11615 N. Houston Rosslyn Road in Houston. Mark Nicholas and Richard Quarles of JLL represented the seller, Halliburton Energy Services.
SAN ANTONIO — American Freight Furniture and Mattress has opened its first location in Texas. The 45,000-square-foot store is located at 639 Lanark Drive in San Antonio, an industrial area commonly known as the Alamo Industrial Center. American Freight Furniture and Mattress is a discount furniture warehouse open to the public. Home furnishings and furniture are received from manufacturers due to factory closeouts, liquidations, dealer cancellations and retail chain buyouts. American Freight orders directly from the product manufacturer and utilizes warehouses rather than showrooms. Furniture brands sold at American Freight include Simmons, Serta and NordicRest.
DALLAS — Trader Joe’s has leased 12,500 square feet in the Preston Alexis addition to Pepper Square Shopping Center at Preston Road and Alexis Drive in north Dallas. Trader Joe’s is a privately held chain that entered the Dallas/Fort Worth market in 2013 and has six stores in the region. Vaughn Miller of VCM Development Group secured the lease and worked in cooperation with Henry Miller IV and Daniel Harris of HSM Brokerage on behalf of the landlord. Kevin Deighan of Timberline Real Estate represented the tenant. The store is slated to open later this year. Vaughn Miller and his father, Vance C. Miller, developed the Preston Alexis addition in 2001 after redeveloping the nearby Pepper Square Shopping Center at Preston Road and Beltline Road.
LONGVIEW, TEXAS — Caddis, a national healthcare real estate firm headquartered in Dallas, has acquired a 74-unit assisted living and memory care community known as Fountainview Estates in the east Texas market of Longview, about a two-hour drive east of Dallas. Located at 1408 Lago Trail on the city’s northwest side, the community will become part of Caddis’ Heartis brand and will be renamed Heartis Longview. Frontier Management, a seniors housing operator headquartered in Portland, Ore., assumed management duties upon closing. Amenities at Fountainview Estates include a waterfront outdoor terrace, community dining room, game room, theater, beauty salon and barber shop, 24-hour nursing services, an emergency call system, housekeeping and laundry services. Mike Pardoll of Marcus & Millichap’s Charlotte office brokered the deal.
SUGAR LAND, TEXAS — H.I.G. Realty Partners, an investment firm, has sold a 288-unit apartment community in the Houston suburb of Sugar Land. The asset was purchased in December 2012 and H.I.G. implemented a capital improvement program during its ownership. During the past three years, H.I.G. Realty has acquired and/or developed 7,000 multifamily and student housing units in 13 investments across the U.S. H.I.G. Realty is the real estate platform of H.I.G. Capital, which manages $1.3 billion in investments in small-to-mid cap real estate assets. H.I.G. Realty targets the acquisition of value-add investments and seeks to generate cash flow and appreciation through redevelopment.
HOUSTON — Ryan Watson of Q10 Kinghorn, Driver, Hough & Co. has secured an $8.4 million acquisition loan for an apartment complex in Houston. The two-story property includes 356 units. Q10 Kinghorn, Driver, Hough & Co. is a Texas-based commercial mortgage banking company that arranges financing for developers and owners of commercial real estate.
IRVING, TEXAS — CBRE has arranged the sale of Casa del Sol, a 104-unit apartment complex in the Dallas suburb of Irving. Ken Durham purchased the asset from Elmstone Group CDS LLC through a tax-deferred 1031 exchange. At closing, the community was 100 percent occupied. Chris Deuillet of CBRE’s Dallas office represented the seller. The asset, located at 730 N. Nursery Road, was built in 1962. The four-building complex is comprised entirely of 432-square-foot, one-bedroom units.
IRVING, TEXAS — Greysteel, a Washington, D.C.-based real estate investment services firm, has arranged the sale of Knollwood, a 188-unit multifamily community in Irving. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel’s multifamily investment sales team served as advisor and agent to BJS Knollwood LLC in the sale of Knollwood to TwinkleStar Asset LLC. Over the past 30 months, the property received more than $650,000 in improvements, including office renovations, laundry area improvements, landscaping, new paint and a renovated pool area.
HOUSTON — Ashford Crossing LLC, an affiliate of Hartman Short Term Income Properties XX, has purchased the Ashford Crossing II office building in Houston. The property is a 158,451-square-foot, six-story office building located at Dairy Ashford Road and Whittington Drive on the southern edge of the energy corridor and the northern border of the Westchase submarket. Ashford Crossing II was built in 1983 and has been institutionally owned and managed since 2002. The property is 87 percent leased to a mix of tenants, including Rignet, a provider of communications, networks and collaborative applications for the oil and gas industry. H. Dan Miller and Marty Hogan of HFF represented the seller in the transaction. Dave Wheeler, Julian Kwok and Russell Turman of Hartman represented the buyer, Hartman Ashford Crossing LLC.
AUSTIN, TEXAS — Austin-based Roscoe Properties has added eight new communities, totaling 2,040 rentable units, to its multifamily portfolio. The communities are: Westgate, a 312-unit complex in Houston; Sierra Royal, a 108-unit complex in San Antonio; Mariposa, a 132-unit complex in San Antonio; Elevation on Post Road a 342-unit complex in San Antonio; The Rail a 390-unit complex in College Station; Bristol Square, a 336-unit complex in Austin; The Beverly, a 120-unit complex in Austin, and; The Current, a 300-unit complex in Austin. Founded in 2002 by Jason Berkowitz, Roscoe Properties is an operator of multifamily communities. In addition to its headquarters in Austin, Roscoe Properties operates regional offices in Houston and San Antonio and manages approximately 10,000 units.