Texas

M&M SECURES SALE OF CIMARRON APT. HOMES

by admin September 12, 2012

UNIVERSAL CITY — Marcus & Millichap has brokered the sale of the 140-unit Cimarron Apartment Homes, a 116,368-square-foot apartment community located at 1950 Universal City Blvd. in Universal City. The community features a laundry facility, fitness center, two swimming pools and a children's playscape. Scott Lamontagne, Will Balthrope and Moses Siller of Marcus & Millichap represented the seller, a private fund manager, in the transaction. Lamontagne, Balthrope and Siller also represented the buyer, a nonprofit company.

September 12, 2012

Texas

ACTION SELF STORAGE FACILITY SELLS

by admin September 12, 2012

HOUSTON — The 449-unit Action Self Storage, a 54,150-square-foot self-storage facility located at 7007 S. Lake Houston Parkway in Houston, has sold. Joe Linsalata of Linsalata Realty Services represented the seller in the transaction. Val Gregory, a Provo, Utah-based buyer, purchased the property and is planning to upgrade the facility and improve operations.

September 12, 2012

Retail Texas

STUDIO MOVIE GRILL TO OPEN AT KEYSTONE PARK

by admin September 12, 2012

DALLAS — Studio Movie Grill plans to open its fifth Dallas/Fort Worth location at the 142,961-square-foot Keystone Park Shopping Center, located at the southwest corner of U.S. Highway 75 and Spring Valley Road in Dallas. Other tenants include El Chico, Micro Center, Bone Daddy's and Razzoo's. Rancho Keystone Park LP, owner of Keystone Park, plans to add several pad sites to the property as well. Dallas-based UCR handles leasing for Keystone Park.

September 12, 2012

Retail Texas

MCA ARRANGES $10M LOAN FOR PITMAN CORNERS

by admin September 12, 2012

PLANO — Dallas-based Metropolitan Capital Advisors (MCA) has closed a $10 million loan for the acquisition of Pitman Corners Shopping Center, a 192,267-square-foot, grocery-anchored retail center located at the southwest corner of West 15th Street and Custer Road in Plano. Albertsons anchors the center, which includes other merchants such as Tuesday Morning and McDonald's. Todd McNeil of MCA arranged the loan with a 30-year amortization schedule through a local bank.

September 12, 2012

Office Texas

S&P FINISHES $16.5M RENOVATION OF JOHNSON SPACE CENTER

by admin September 11, 2012

HOUSTON — Satterfield & Pontikes Construction has completed a $16.5 million renovation of the 65,000-square-foot Building 12 at the NASA Johnson Space Center, located in Houston. The property was upgraded to achieve LEED Gold certification with features like lighting controls, wind turbines, high-effeciency plumbing fixtures and a 32,000-square-foot garden roof that houses more than 67,000 plants. Building 12 provides office space for human resources, finance, administration and onsite training functions.

September 11, 2012

Multifamily Texas

IPA BROKERS SALE OF THE PALOMINO

by admin September 11, 2012

SAN ANTONIO — Institutional Property Advisors (IPA) has arranged the sale of The Palomino, a Class A, 484-unit multifamily complex located at 14111 Vance Jackson Road in San Antonio. Will Balthrope, Scott Lamontagne and Drew Kile of IPA represented the seller, Koontz McCombs Development, in the transaction. Balthrope and Lamontagne also secured the buyer, an investment group represented by Beverly Hills, Calif.-based Francis Property Management Inc. The property is currently 95 percent occupied.

September 11, 2012

Multifamily Texas

SBV COMMUNITIES BUYS BEAR CREEK APTS.

by admin September 11, 2012

EULESS — SBV Communities has purchased the 211-unit Bear Creek Apartments, located at 605 Del Paso St. in Euless. Auction.com facilitated the transaction, which is the second purchase this week for SBV. The firm's ownership footprint is now spread over 14 markets.

September 11, 2012

Multifamily Texas

ARA SECURES SALE OF SUMMERCREEK APTS.

by admin September 11, 2012

SAN ANTONIO — ARA has brokered the sale of the 180-unit Summercreek Apartments, located at 11851 Belair Drive in San Antonio. The apartment is currently 93 percent occupied and features two swimming pools with a waterfall, a fitness center, sports court, playground and a barbecue area. Casey Fry of ARA's San Antonio office represented the seller, New Jersey-based Wilshire Enterprises, in the transaction. Santa Ana, Calif.-based SGI Partners is the buyer, and Summercreek is the company's first Texas property.

September 11, 2012

Industrial Texas

HFF ARRANGES EQUITY, LOAN FOR INDUSTRIAL PORTFOLIO

by admin September 11, 2012

AUSTIN — HFF has secured joint venture financing between Live Oak-Gottesman LLC and KFG Investment Co. for a 204,000-square-foot industrial portfolio, located near the section of Interstate 35 and West Howard Lane within Tech Ridge, a 1,000-acre business park in Austin. The portfolio consists of three Class A industrial properties 94 percent leased to six tenants including NCS Pearson, Ultra Clean Technology, Dynamic Manufacturing, Anixter and Finisar Corp. Randy Baird, Jud Clements and Robby Rieke of HFF arranged the equity through Principal Real Estate Investors on behalf of the borrowers, Live Oak-Gottesman and KFG Investment Co. Additionally, Mona Carlton of HFF arranged debt financing for one of the properties.

September 11, 2012

Civic Texas

S&P COMPLETES $14M HIGH SCHOOL FACILITY

by admin September 10, 2012

BELLAIRE — Satterfield & Pontikes Construction has recently finished the 78,000-square-foot Jack T. Trotter Academics & Sciences Building, a $14 million high-tech facility on Episcopal High School's campus in Bellaire. The facility offers wireless white boards, touch-screen computers, a two-story lobby, classrooms, science and language labs, performing arts and administrative areas. Jackson & Ryan Architects designed the facility.

September 10, 2012

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