Texas

Dougherty Mortgage Arranges $6.2M Loan for Apartment Complex in Austin

by Haisten Willis April 16, 2015

AUSTIN — Dougherty Mortgage has arranged a $6.2 million Fannie Mae loan for the refinancing of Quail Park Village Apartments, a 142-unit multifamily affordable housing property located in Austin. The Fannie Mae loan includes a 10-year term with a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for the borrower, Heartland Wanaka Limited Partnership. Quail Park Village is located in north Austin. Unit amenities include energy-efficient windows and doors, countertop and flooring upgrades, new cabinets and gas stoves.

April 16, 2015

Retail Texas

New Retailers to Join Northwest Village Shopping Center in Longview

by Haisten Willis April 16, 2015

LONGVIEW, TEXAS — Three retailers are set to open at the Northwest Village Shopping Center, a regional power center in Longview. Located at the northeast corner of Loop 281 and Gilmer Road at 1725 W. Loop 281, the shopping center is situated on approximately 14 acres. The leases total 86,000 square feet. Big Lots will occupy 36,000 square feet. Karen Mitchell of The Woodmont Co. represented the tenant in the transaction. Big Lots is expected to open its doors in fall 2015. Burke’s Outlet will occupy 28,880 square feet. Clay Graham of Fox & Graham represented the tenant in the transaction. Burke’s is planning to open this month. ALDI Food Market will occupy 21,120 square feet. Stan Lotridge with UCR represented the tenant in the transaction. ALDI Food Market is expected to open in fall 2015. The three new leases bring Northwest Village’s occupancy from 42 percent to 95 percent.

April 16, 2015

Loans Multifamily Texas

BMC Capital Provides $1.5M Loan for Apartment Complex in Metro Dallas

by Haisten Willis April 16, 2015

WEATHERFORD, TEXAS — Clayton Wells of BMC Capital’s Dallas office has arranged a $1.5 million purchase loan for an apartment complex located in Weatherford. The property was constructed in December 2014. The loan features a 75 percent loan-to-value ratio, a five-year fixed-rate at 4.5 percent with a rate reset at five years, and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.

April 16, 2015

Office Texas

Rosemont Realty Signs Two New Tenants at Office Building in Dallas

by Haisten Willis April 15, 2015

DALLAS — Rosemont Realty LLC, a commercial real estate investment company, has signed two local tenants to leases at 9400 NCX for a combined 11,621 square feet. Camden Homes and Insurance Designers of Dallas each have committed to new leases for their respective headquarters at the 9400 NCX building, located at 9400 N. Central Expressway in Dallas. Camden Homes has consolidated three locations into the new 8,065-square-foot office space. Insurance Designers of Dallas has secured 3,556 square feet. Camden Homes is a private homebuilder in the Dallas-Fort Worth area. Insurance Designers of Dallas is part of an independent marketing organization. Stephen Holley with Jones Lang LaSalle represented the tenant in the transaction. The 16-story, 387,160-square-foot 9400 NCX building is currently undergoing a lobby and conference center renovation, to be completed this summer.

April 15, 2015

Retail Texas

Ridgmar Mall in Fort Worth to Receive Renovations

by Haisten Willis April 15, 2015

FORT WORTH, TEXAS —Ridgmar Mall in Fort Worth will soon undergo an interior makeover. The renovations include the remodeling of a movie theater and other upgrades to the interior that will change the look and feel of the mall, according to GK Development, the Barrington, Ill.-based owner of the regional shopping center. The mall’s revitalization plan calls for new sightlines, new color schemes and new decorative lighting. During construction, all stores will be open. The theater will see updated auditoriums with recliners. Other amenities will include updated finishes inside the auditoriums, enhanced concession options and reserved seating. The work is set for completion this summer. Ridgmar Mall is located on the northeast corner of I-30 and Green Oaks Road in west Fort Worth. Tenants include Dillard’s, JC Penney, Macy’s, Neiman Marcus, Sears, Rave Ridgmar 13 + Xtreme Cinemas and more than 125 other stores and restaurants.

April 15, 2015

Industrial Texas

Colliers Arranges 157,909 SF Industrial Lease in Dallas

by Haisten Willis April 15, 2015

DALLAS — Colliers International has arranged a 157,909-square-foot industrial lease in Dallas. Ward Richmond and Cole Hooper of Colliers International represented BZO Custom Wheels, the landlord of 3061 W. Saner Ave. Cartamundi US leased the space. Craig Jones of NAI Robert Lynn represented the tenant.

April 15, 2015

Industrial Texas

NAI Partners Arranges 14,000 SF Industrial Lease in Houston

by Haisten Willis April 15, 2015

HOUSTON — NAI Partners represented Nuera Transport in the lease of 14,000 square feet of industrial space located at 4555 Brittmoore Road in Houston. Jake Wilkinson of NAI Partners represented the tenant, Nuera Transport, while the landlord, Brittmoore Investments, handled negotiations themselves. Nuera Transport has an inventory of over 10,000 towing and trailer parts, accessories and components.

April 15, 2015

Loans Office Texas

HFF Secures Refinancing for One City Centre in Downtown Houston

by Haisten Willis April 14, 2015

HOUSTON — HFF has secured refinancing for One City Centre, a 608,660-square-foot office tower in downtown Houston. The Class A, 32-story property includes two parking garages. HFF worked on behalf of the borrower, Accesso Partners, to secure the 10-year, fixed-rate loan through J.P Morgan Chase Bank. Loan proceeds were used to retire existing debt that was used to purchase the property in 2012. One City Centre is located at 1021 Main St. The property has direct access to the Metro Light Rail line and tunnel system in downtown Houston. Originally built in 1961, the property was most recently renovated in 2010 and is LEED EB Gold certified. Tenants at the tower, which is 86 percent leased, include Waste Management and Energy XXI. One City Centre also includes the 758-space One City Centre Garage and the 611-space Fannin Garage. Susan Hill and Michael Johnson led the HFF debt placement team representing the borrower. Accesso Partners is a commercial real estate investment manager, owner and operator.

April 14, 2015

Multifamily Texas

M&M Arranges Sale of Multifamily Complex in Metro Dallas

by Haisten Willis April 14, 2015

IRVING, TEXAS — Marcus & Millichap has arranged the sale of Woodwind Condominiums, a 52-unit apartment property located in Irving. Al Silva of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an out-of-state partnership. Silva also secured the buyer, a local private investor. The sale also included an adjacent parcel of land totaling 3.7 acres, which is already zoned for new multifamily development. The new owner plans to make improvements to the existing units to make the property more competitive with others in the area. Woodwind Condominiums is located at 3947 Pleasant Run Road and was constructed in 1983. The property is located near George Bush Parkway and Walnut Hill Lane just 10 minutes from D/FW International Airport.

April 14, 2015

Office Texas

SACA Arranges New Office Leases in San Antonio

by Haisten Willis April 14, 2015

SAN ANTONIO — San Antonio Commercial Advisors (SACA), a member of the Cushman & Wakefield Alliance, has arranged three new tenant leases at Quarry Village II, a 40,000-square-foot office and retail building located at 250 East Basse Road. Paul Fagan of SACA represented Quarry Village II in each transaction. The leases were arranged for: Northeast OB/GYN Associates, which will occupy 4,500 square feet; Central Texas Pain Center, which will occupy 3,500 square feet; and Eating Recovery Center, which will occupy 9,700 square feet.

April 14, 2015

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