BEAUMONT — Alliant Capital has closed a $5.6 million acquisition loan for the 182-unit Settler’s Cove, a garden-style apartment community located in Beaumont. Jarett Blasberg of Alliant Capital arranged the 10-year loan with a 30-year amortization schedule.
SAN ANTONIO — San Antonio-based LYND has partnered with Miami Lakes, Fla.-based Florida Venture Partners (FVP) to acquire 11 distressed multifamily properties with a loan balance of $200 million. The properties total 3,241 units and are located in seven states: Texas, Georgia, Florida, South Carolina, Virginia, Colorado and California. LYND used capital from a co-investment fund for the acquisition. LYND and FVP plan to rehabilitate the properties and hold them for multiple years. CBRE brokered the court-appointed receivership sale.
STILLWATER, OKLA. — Oklahoma State University (OSU) and A&M Board of Regents have selected Tulsa, Okla.-based KSQ Architects to design a new, $42 million residential hall serving the students of OSU in Stillwater. The new community will replace Kerr-Drummond Hall on the site of Kaye Barrett Droke Track on Hall of Fame Avenue at Cleveland Street. The project will feature 800-900 rooms.
MOORE, OKLA. — Inland Real Estate Acquisitions has acquired The Shops at Moore, a 259,996-square-foot shopping center located in Moore, for $38.75 million. JC Penney anchors the center, which includes other tenants such as Ross Dress for Less, Best Buy, Bed Bath & Beyond, Office Depot, Hobby Lobby, Famous Footwear and Rue21. Inland was self-represented in the transaction by Matt Tice.
COLLEGE STATION — ARA National Student Housing Group has arranged the sale of The Zone and The Enclave, two student housing properties serving the students of Texas A&M in College Station. The Zone is a 240-unit, 588-bed property featuring a resort-style pool, fitness center, tanning facilities, basketball and volleyball courts, game room with billiards and a business center. The Enclave is a 340-unit, 536-bed property featuring a resort-style pool, tanning facilities, a basketball court and a sand volleyball court. Chris Bancroft, Chris Epp and Kelly Witherspoon of ARA represented the sellers in the transaction. Both properties are 98 percent occupied. The buyer was Horizon Realty Advisors.
HOUSTON — Chicago-based Brennan Investment Group and DLJ Real Estate Capital Partners have acquired a nine-building industrial portfolio totaling 338,577 square feet in Houston. Brennan and DLJ plan to reposition and lease up the portfolio.
HOUSTON — Transwestern has brokered the sale of 3355 West Alabama, a 236,932-square-foot office tower located between Greenway Plaza and River Oaks in Houston. Ken Page and Scott Myers of Transwestern represented the seller, KBS Realty Advisors, in the transaction. The buyer, Granite Properties, was self-represented by Will Hendrickson and Paul Bennett.
AUSTIN — Muskin Commercial has arranged the sale of the 200-unit Meadowood Apartments, located at 9601 Middle Fiskville Road in Austin. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller in the transaction. Arbor Realty SR provided acquisition financing, and Legends Asset Management will manage the property.
HOUSTON — Henry S. Miller Brokerage has arranged the sale of 317 Allen Genoa, a 20,000-square-foot office/warehouse located in southeast Houston. Doug Bates of Henry S. Miller represented the seller, CJ Holdings, in the transaction. John Littman of Cushman & Wakefield Texas represented the buyer, Houston Refining, an entity of Lyondellbasell.
HOUSTON — Coldwell Banker Commercial United, Realtors has secured the sale of 10707 Sharmon, a 10,500-square-foot industrial property located off Sam Houston Parkway in north Houston. Marvin Gerber of Coldwell Banker represented the seller in the transaction. Patrick Wolford of The National Realty Group represented the buyer.