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.
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.
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.
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.
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.
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.
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.
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.
IRVING — Walker & Dunlop has arranged $9 million in acquisition financing for the 320-unit Glen Arbor Apartments, located in Irving. The garden-style apartment community is currently 95 percent occupied and features a clubhouse, fitness center, two swimming pools and three laundry facilities. Alex Inman of Walker & Dunlop arranged the 10-year loan with a 30-year amortization schedule through Fannie Mae's Early Rate Lock Program.
FORT WORTH — Marcus & Millichap Capital Corp. (MMCC) has arranged a $7.8 million loan for a 316-unit multifamily property in Fort Worth. The community is currently 94 percent occupied. Brian Adams of MMCC's Dallas office arranged the acquisition financing on a 10-year term with a 30-year amortization schedule.