Texas

QUIKTRIP BEING BUILT IN RIVER OAKS

by admin September 7, 2012

RIVER OAKS — QuikTrip is developing a new Generation III store in River Oaks. The store will employ approximately 15 to 18 people and will feature a made-to-order barista, which serves specialty coffees, ice cream and smoothies. Construction of the QuikTrip includes demolishing the Caravan Inn, which is located on the site. The River Oaks Economic Development Corp. and River Oaks City Council recently approved a $300,000 incentive package for the new store, which is slated for a March 2013 opening.

September 7, 2012

HFF CLOSES SALE, FINANCING FOR HOUSTON OFFICE PORTFOLIO

by admin September 7, 2012

HOUSTON — HFF has arranged the sale of a three-building office portfolio totaling 566,308 square feet, located at the intersection of Interstate 10 and Dairy Ashford Road in Houston's Energy Corridor. The three eight-story office buildings are 93.6 percent leased. Robert Williamson and H. Dan Miller of HFF represented the sellers, Falcon Southwest and CarVal Investors, in the transaction. Susan Hill of HFF arranged the acquisition financing through JPMorgan Chase Bank on behalf of the buyer, Beacon Investment Properties.

September 7, 2012

Healthcare Texas

REIT PROVIDES $15M INVESTMENT FOR HOSPITAL REDEVELOPMENT

by admin September 7, 2012

DALLAS — Carter Validus Mission Critical REIT has closed a $15 million preferred equity investment to redevelop an existing medical office building in Dallas. The hospital will be renamed Walnut Hill Doctors Hospital, which will span 200,000 square feet and include 84 in-patient beds, 16 intensive care units and six operating rooms. The hospital will feature emergency, urgent care, diagnostic imaging, surgery, cardiology and general acute care capabilities. The REIT also has the option to acquire the property after completion of the renovations. The equity investment will be used along with a $34 million construction loan and a $21 million equity investment by a private development group.

September 7, 2012

Mixed-Use Texas

STRATFORD LAND PROVIDES $14M LOAN FOR DEVELOPMENT

by admin September 7, 2012

SAN ANTONIO — Stratford Land has funded a $14 million, non-recourse loan to Carlton Holdings for its development of the 182-acre Monterrey Village, a mixed-use development located at Interstate 410 and State Highway 151 in western San Antonio. Carlton Holdings has owned the land since 2006. The loan is Stratford Land's first in San Antonio.

September 7, 2012

Market Reports Texas Texas Market Reports

Unique off-campus housing market in Austin.

by admin September 7, 2012

The off-campus student housing market in Austin is unique when compared to the majority of student markets around the country. From a macro perspective, the University of Texas at Austin (UT) is situated in one of the leading markets in the country in terms of population growth (42 percent from 2000-2011 Austin/Round Rock MSA), job growth (6.1 percent unemployment vs. 8.8 percent national average) business-friendly local and state economies and overall quality of life (“No. 1 best city to live in for the next 10 years” — Kiplinger’s Personal Finance, June 2011). UT has a current enrollment of more than 51,000 students and is the fifth largest institution in the country. UT regards itself as a leader in academics, athletics and as one of the leading research institutions in the U.S. For all the above reasons and more, UT continues to be a huge draw for students both in Texas and from out of state. Despite legislative enrollment limits of approximately 50,000 students, the student housing market in and around UT is one of the strongest student markets in the country today. West Campus (a roughly 10 by 10 block area due west of UT) reported market occupancy for the …

September 7, 2012

Hospitality Texas

WYNDHAM LAS COLINAS SELLS

by admin September 6, 2012

IRVING — Rockwood Real Estate Advisors has brokered the sale of the 168-room Wyndham Las Colinas, a hotel located in the Las Colinas community in Irving. The hotel features a business center, an indoor pool, fitness center, concierge, guest laundry and shuttles to area attractions. Andrew Kern and David Altobello of Rockwood's Bethesda, Md., office represented the seller, an affiliate of Investcorp International, in the transaction. Rockwood also sourced local investors to purchase the property.

September 6, 2012

Multifamily Texas

CONNOR GROUP PURCHASES AUSTIN MULTIFAMILY PROPERTY

by admin September 6, 2012

AUSTIN — The Connor Group has acquired the 253-unit Cityview at SoCo, an apartment community located in Austin. The property was formerly known as Camden South Congress and it features several retail spaces. The acquisition marks The Connor Group's first property in Austin.

September 6, 2012

Mixed-Use Texas

RETAIL PROPERTY FETCHES $6M LOAN

by admin September 6, 2012

HOUSTON — Q10 Kinghorn, Driver, Hough & Co. (KDH) has arranged $6 million in long-term financing for a mixed-use development, located on Lake Houston. The development includes three retail buildings and one office/retail building. Sam McHard of KDH's Houston office arranged the loan through AVIVA.

September 6, 2012

Multifamily Texas

NORTHMARQ ARRANGES FINANCING FOR APTS.

by admin September 6, 2012

HOUSTON — NorthMarq Capital has secured first mortgage refinancing for the 260-unit Steeplecrest Apartments, located at 11220 W. Road in Houston. Greg Duvall of NorthMarq's Kansas City, Kan., office arranged the 10-year loan with a 30-year amortization schedule through AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.

September 6, 2012

Restaurant Texas

NEW RESTAURANT COMING TO WEST 7TH

by admin September 6, 2012

FORT WORTH — Chef Jon Bonnell of Bonnell's Fine Texas Cuisine will open Waters, Bonnell's Fine Coastal Cuisine, a 7,775-square-foot upscale restaurant, in the West 7th mixed-use development in Fort Worth. The property will be located at 2901 Crockett St., and the opening is slated for February 2013. Rodger Chieffalo of Chiefallo Realty, along with Frank Bullock and Carey Shagets of SRS Real Estate Partners, represented the landlord, Cypress Equities, in the lease transaction. Attorney Jack Larson represented the tenant.

September 6, 2012

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