Texas

MCCARTHY BREAKS GROUND ON $191M WATER FACILITY

by admin September 5, 2012

CONROE — McCarthy Building Cos. has begun construction on a $191 million project in Conroe known as the San Jacinto River Authority Surface Water Facility, located in Conroe. The construction will include building a raw water intake and pump station, water treatment plant, high service pumping station and storage. The facility is the second largest water infrastructure project in Texas. The project will use the Construction Manager-at-Risk (CMAR) delivery method, which will bring the contractor in early to help the collaborative team develop the most cost-effective solutions for the project. The treatment plant will have a 30 million gallons of water per day capacity. The project is slated for a late 2015 completion.

September 5, 2012

BOKA POWELL COMPLETES DESIGN FOR LUMEN HOTEL

by admin September 5, 2012

DALLAS — BOKA Powell has completed architecture and interior design work for The Lumen, a hotel located at 6101 Hillcrest Ave. adjacent to Southern Methodist University (SMU) in Dallas. The expansion includes adding 36 new guestrooms, expanding the lobby, adding The Front Room restaurant and a rooftop terrace with views of SMU and the Park Cities neighborhood. BOKA Powell also redesigned the existing 57 guestrooms. BOKA Powell completed the project on behalf of Headington Cos., the developer and owner of The Lumen. Kimpton Hotel and Restaurants manages the hotel.

September 5, 2012

Multifamily Texas

LATA ACQUIRES LANDMARK AT EMERSON PARK

by admin September 5, 2012

WEBSTER — Landmark Apartment Trust of America (LATA) has purchased the 354-unit Landmark at Emerson Park, a Class A apartment community located in Webster. The community, formerly known as Gardens at Challenger Park, includes gated entries, landscaped courtyards, a swimming pool, fitness center and designer kitchens. The property was purchased through first mortgage financing through Fannie Mae. Rob Wilson III of Wilson Investments represented the seller in the transaction. Tom Wilkinson of KET Enterprises, along with Jim Hurd of Houston Income Properties, represented the buyer.

September 5, 2012

Multifamily Texas

HFF ARRANGES SALE, FINANCING OF TRINITY OAKS

by admin September 5, 2012

DALLAS — HFF has closed the sale of and arranged financing for the 240-unit Trinity Oaks, a Class B multifamily community located at the intersection of Midway and Trinity Mills roads in north Dallas. The buyer, Allen Harrison Co., purchased the property free and clear of debt and plans to complete interior and exterior renovations through its affiliate, AHC Construction. Mosaic Residential will manage the property. Blair Lang of HFF's Dallas office represented the seller in the transaction. Cortney Cole of HFF's Houston office arranged the 10-year loan through Arbor Commercial Mortgage on behalf of the buyer.

September 5, 2012

Healthcare Texas

REIT PURCHASES BAYLOR MEDICAL FOR $31M

by admin September 4, 2012

DALLAS — Carter Validus Mission Critical REIT has acquired the 62,000-square-foot Baylor Medical Center, located at 3500 Gaston Ave. in Dallas, for $31 million. The medical center has been open for operation since January 2011, and features 24 in-patient beds, six operating suites, a four-room emergency department and an imaging suite equipped with X-ray, CT scanning and MRI capabilities.

September 4, 2012

Multifamily Texas

MILL CREEK PURCHASES THREE MULTIFAMILY PROPERTIES

by admin September 4, 2012

HOUSTON AND AUSTIN — Mill Creek Residential Trust has acquired three apartment communities totaling 589 units in urban in-fill locations in Houston and Austin. The communities include the 162-unit La Tour Fontaine in Houston's Galleria submarket, the 219-unit Place at Greenway in Houston near Greenway Plaza and the 208-unit Woodmoor located in Austin's South Lamar corridor.

September 4, 2012

Multifamily Texas

MAA ACQUIRES SAN ANTONIO APT. COMMUNITY

by admin September 4, 2012

SAN ANTONIO — MAA has purchased the 436-unit Haven at Blanco, an upscale multifamily community located at 15150 Blanco Road in San Antonio. Haven at Blanco's amenities include a private entrance gate, resort-style swimming pool with cabanas, heated spa and attached and detached garages.

September 4, 2012

Retail Texas

NORTHERN TOOL + EQUIPMENT OPENS CORPUS CHRISTI STORE

by admin September 4, 2012

CORPUS CHRISTI — Northern Tool + Equipment has signed a lease to open a 15,000-square-foot store, located at 4914 S. Padre Island Drive in Corpus Christi. Clay Mote of Venture Commercial represented the tenant in the lease transaction. Sharon Biles of Sabre Properties represented the landlord. Northern Tool + Equipment has more than 70 stores nationwide.

September 4, 2012

Multifamily Texas

AMERICAN CAMPUS COMMUNITIES BUYS THE BLOCK

by admin August 31, 2012

AUSTIN — American Campus Communities (ACC) has acquired The Block, a six-community off-campus student housing property consisting of 1,555 beds, located in the West Campus submarket. The property serves students attending The University of Texas at Austin. The Block was built in 2007-2008 and is currently 97 percent occupied. Each of the six communities that comprise The Block offers a parking garage, rooftop lounge, fitness center and a variety of floor plans. There is also a centralized community center featuring a game room, business center and pool with sun deck.

August 31, 2012

Industrial Texas

MCSHANE/METLIFE SELLS DISTRIBUTION CENTER

by admin August 31, 2012

HOUSTON — The McShane Development Co./MetLife Real Estate Investments industrial development alliance has sold the 253,838-square-foot Guhn Road Distribution Center, located at 6535 Guhn Road in Houston. The facility is fully leased to Forum Energy Technologies. Rusty Tamlyn and Trent Agnew of HFF, along with Justin Robinson and Kyle Valentine of Stream Realty Partners, represented the seller in the transaction. The buyer is a commingled fund advised by Clarion Partners.

August 31, 2012

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