HOUSTON — Meridian Capital Group LLC has arranged a $19.5 million loan for the acquisition of four Houston multifamily properties. The purchased portfolio includes the 228-unit Valencia at Spring Branch Apartments at 9550 Long Point Road, the 192-unit Forest Apartments at 22820 Imperial Valley Drive, the 300-unit Pine Creek Apartments at 470 Maxey Road and the 264-unit Kirkwood Landing Apartments at 9850 South Kirkwood Drive. Michael Brown and Brad Beattie of Meridian arranged the CMBS loan, which includes a five-year term at a fixed rate of 5.1 percent, for an undisclosed borrower.
Texas
SAN ANTONIO — Homewood Suites by Hilton, the upscale extended-stay brand of Hilton Worldwide, has opened its newest hotel in San Antonio. Homewood Suites by Hilton San Antonio/SeaWorld is a four-story, 109-suite property located 12 miles from downtown San Antonio and in close proximity to attractions such as SeaWorld, the Alamo, Six Flags Fiesta Texas, San Antonio Zoo and the San Antonio Riverwalk. SAT WestLakes Inc. owns the hotel, the third in the San Antonio area under the Homewood Suites by Hilton brand. Baywood Hotels Inc. manages the property, which features a 24-hour on-site pantry, fitness center, outdoor pool and 700 square feet of meeting space.
AMARILLO, TEXAS — Caddis Partners Inc. has broken ground on Heartis Amarillo, an 89-unit, 63,904-square-foot assisted living and memory care community in Amarillo. The facility will include 54 assisted living suites and a 35-bed memory care center, as well as amenities such as a theater, diner, arts and crafts shop, garage and three interior courtyards. Austin-based architects Katus designed the property, MAPP Construction is serving as general contractor, and Eugene, Ore.-based Good Neighbor Care will manage the property. Amegy Bank financed the facility, which Caddis owns under its Heartis brand and will be completed in fall 2014.
SAN ANTONIO — NorthMarq Capital has arranged a refinancing loan of $12 million for The Atrium, a 130,780-square-foot office building in San Antonio. The property, originally constructed in 1982, is located at 85 N.E. Loop 410 and features on-site security, 24-7 access and a conference room. Bryan Leonard of NorthMarq originated the five-year CMBS loan, which includes a 30-year amortization schedule. The borrower has owned the building for approximately 10 years.
HOUSTON — Pipeline Realty plans to develop up to five office/warehouse buildings totaling 90,000 to 130,000 square feet for Houston’s Cottingham Business Park, the company’s first industrial project in a decade. Pipeline recently acquired 12 acres at the intersection of South Sam Houston Parkway and Cottingham Road for the complex. Versa Integrity Group, an industrial inspection and maintenance company, has pre-leased the first building, which is already under construction. Pipeline will maintain management responsibilities after construction, and Mark Nicholas of Jones Lang LaSalle will lease the property.
ARLINGTON, TEXAS — Stonemark Equities and equity partner 29th Street Capital have acquired Southern Hills Apartment Homes, a 250-unit multifamily complex in Arlington. The property, located at 2624 South Hills Boulevard, offers one-, two- and three-bedroom layouts. Stonemark will rebrand the property as The Mark at 2600 and invest $1.3 million in renovations, including improvements to the clubhouse, fitness center, pool, playground and interior appliances. The seller was a group of individual owners/investors.
HOUSTON — Boxer Property has arranged an office lease at the Centre One building in Houston for GetixHealth, a business services provider for the healthcare industry. The new tenant will occupy 21,738 square feet of the building, which totals 11 stories and 225,113 square feet. Features of the property include an on-site deli, multi-level parking garage, security patrol and surveillance cameras. Trey Miller of Boxer negotiated the lease on behalf of the property owner.
FORT WORTH, TEXAS — Full-service real estate firm Lockard and partner Moriah Real Estate Co. held the grand opening for The Shoppes at Renaissance Square, a $75 million retail center in southeast Fort Worth. Located along East Berry Street between Mitchell and Vaughn boulevards, the 400,000-square-foot development is anchored by Walmart and houses other tenants such as 7-11, McDonald’s, Jack in the Box, Marshalls and Shoe Carnival. Lockard maintains leasing duties for the property.
THE WOODLANDS, TEXAS — Whole Foods Market plans to break ground this month on a new 40,000-square-foot location at Hughes Landing, a development of The Howard Hughes Corporation and its subsidiary, The Woodlands Development Company. Expected to open in 2015, the store will be located off Lake Front Circle near the Lake Woodlands Drive intersection and will feature adjacent surface parking. The larger Hughes Landing development includes office, hotel and multifamily uses in addition to retail. Tim Hughes of The Falcon Companies represented Whole Foods in the deal, while Howard Hughes was internally represented by Mike Zoob and Rip Reynolds.
SAN ANTONIO — Presidium Group has acquired Hunter’s Ridge Apartments, an 81-unit multifamily property in northern San Antonio. The complex, which Presidium will rebrand as Elm Creek Apartments, is located at 2358 N.W. Military Highway. The new ownership has launched a $1.1 million capital improvements program, including enhancements to both interiors and exteriors and the addition of a fitness center. The property also offers proximity to the South Texas Medical Center, San Antonio International Airport and Hardberger Park.