NEW BRAUNFELS — Mercantile Capital Corp. has closed a $3.15 million SBA 504 loan for the 61-room Best Western Inn & Suites, located in New Braunfels. The 29,948-square-foot hotel features an outdoor pool, an outdoor spa and meeting facilities. Mercantile Capital Corp. provided the loan on behalf of the borrower, New Braunfels Hospitality.
HOUSTON — The LaSalle Group has plans to build an $11.2 million, 26,000-square-foot memory care facility called The Autumn Leaves of West Houston, located in Houston. The facility will be the ninth memory care community The LaSalle Group has brought to the Houston area in approximately two years. The LaSalle Group, Silverado Interests and Community Trust Bank are partners for this project, which is slated for a first quarter 2013 opening.
GARLAND — ARA has arranged the sale of the 111-unit Montclair Estates, an independent living community located in Garland. Titan SenQuest, a division of Titan Real Estate Investment Group, is the buyer, and affiliates of Walton Street Capital and Senior Lifestyle Corp are the sellers.
IRVING — Mesa West Capital has provided $50 million in acquisition financing for the 618,555-square-foot Regent Commons, a Class A office campus located in Irving. Steve Fried of Mesa West Capital originated the financing on behalf of the borrower, Brookfield Asset Management.
HOUSTON — Berkadia Commercial Mortgage has arranged $11.2 million in financing for the 366-unit Cooper's Mill apartment community, located at 15603 Gulf Freeway in Houston. The property is currently 90 percent occupied. Cutt Ableson and Jon Gilfillan of Berkadia's Houston office arranged the 10-year CMBS loan with a 30-year amortization schedule on behalf of the borrower, Cooper's Mill Apartments LLC.
FRISCO — Marcus & Millichap has brokered the sale of the 5,200-square-foot Legacy Center, a retail property located at 4300 Legacy Drive in Frisco. Blake Burnett of Marcus & Millichap's Dallas office represented the seller, SA Challenger Inc., in the transaction. Burnett also procured the buyer, a private investor.
SAN ANTONIO — Yates Construction has completed the renovation of the 12,000-square-foot, three-story Hard Rock Riverwalk Cafe, located in San Antonio. The interior renovation included expanded seating, new finishes for the dining area and upgrades for the kitchen and restrooms. The exterior renovation included constructing a new entrance canopy on the Riverwalk level, new awnings, enclosing the outdoor patio on the street level and building a new outdoor canopy for expanded outdoor seating.
PASADENA — Arch-Con Construction has finished the construction of a 40,000-square-foot design-build office/warehouse facility, located in Pasadena. The facility will house the combination of four Total Safety locations. Beau Kaleel of Cushman & Wakefield represented Total Safety in the lease transaction. Powers Brown Architecture provided design services for the facility, which was built crane-ready.
HOUSTON — HFF has brokered the sale of the 94,166-square-foot 1900 Yorktown, a six-story office building located in Houston's Galleria area. The buyer, Houston-based The Finger Companies, plans to demolish the property and develop a Class A, mid-rise multifamily property in its place. Dan Miller, Davis Adams and Marty Hogan of HFF represented the seller, a national specialty finance company, in the transaction.
ODESSA — Marcus & Millichap has arranged the sale of the 65,231-square-foot Sherwood Village Center, located at 625 E. 42nd St. in Odessa. The property is fully leased to tenants such as O'Reilly Auto Parts, Family Dollar, Goodwill Industries, State Farm Insurance and Jackson Hewitt. Vincent Knipp of Marcus & Millichap's Fort Worth office represented the seller, Fort Worth-based Hickman Cos., in the transaction. Knipp also procured the buyer, a 1031-exchange California partnership.