LUBBOCK — Beech Street Capital has funded a $6.3 million Fannie Mae ARM 7-6 loan for the refinancing of the 232-unit Canyon Crossing, a multifamily property located in Lubbock. Jacob Katz of Meridian Capital Group's Bethesda, Md., office arranged the 7-year loan with 2 years of interest only and a 30-year amortization schedule through Beech Street.
THE WOODLANDS — HFF has secured financing and joint venture equity for the 256-unit Forest View and the 216-unit Timbermill, two multifamily communities located at 4545 S. Panther Creek Dr. and 1481 Sawdust Rd., respectively, in The Woodlands. Cortney Cole of HFF's Houston office arranged the Freddie Mac loans with 7-year terms and 4 years interest only on behalf of the borrower, Venterra Realty. A fund managed by Boston-based BayNorth Capital is providing the joint venture equity for both properties.
SUGAR LAND — HFF has arranged the sale of the 111,675-square-foot First Colony Marketplace, a neighborhood shopping center located at 4610 Hwy. 6 S. in Sugar Land. The property is fully leased to tenants including Smoothie King, Sears Hardware, 99 Cents Only and Fitness Connection. Rusty Tamlyn and Ryan West of HFF's Houston office represented the seller, CAP First Colony, in the transaction. Fidelis Realty Partners is the buyer.
ARLINGTON — W.W. Grainger has acquired a 60,500-square-foot showroom/warehouse, located at 2251 E. Division St. in Arlington. Renee Efimoff of Arlington-based SCM Real Estate Services represented the seller in the transaction. The buyer was self-represented.
FRISCO AND SAN ANTONIO — Dallas-based UCR Investment Sales has brokered the sale of the 10,417-square-foot Starbucks & Verizon Shops in Frisco and the 13,956-square-foot Canyon Creek shopping center in San Antonio. Starbucks & Verizon Shops includes tenants such as Starbucks, Verizon Wireless, The UPS Store and Allstate. Canyon Creek includes tenants such as Navy Federal Credit Union, Scottrade, The Strand Salon, Hometown Flooring, Cigar Warehouse and Delice Chocolate. Tommy Tucker of UCR Investment Sales represented the undisclosed sellers of both properties.
MCKINNEY — Family First Healthcare, the office of Demetria Smith, M.D., has opened a 2,196-square-foot office, located at 6717 W. Eldorado Pkwy., Ste. 120 at the Eldorado Office Park in McKinney. Rebecca Harrell and Jim Turano of Henry S. Miller Brokerage's represented the landlord, Eldorado Office Park LLC, in the lease transaction. Mike Cowherd of TH Physicians Group represented the tenant. Eldorado Office Park is currently 89 percent occupied.
SAN ANTONIO — San Antonio-based SWBC has purchased the remaining interest in Dallas-based Royalton Real Estate Capital. The new name of the company will be SWBC Real Estate, and it will continue to focus on investing, acquiring and developing commercial real estate properties, especially multifamily, in San Antonio, Dallas/Fort Worth, Austin and Houston.
HOUSTON — Jones Lang LaSalle has arranged the sale of two office buildings totaling 141,265 square feet, located at 16350 and 16360 Park Ten Place inside the Park 10 Regional Business Center in Houston's Energy Corridor submarket. Rudy Hubbard and Leah Gallagher of Jones Lang LaSalle's Capital Markets team in Houston represented the seller, American Spectrum Realty, in the transaction. The buyer was Hicks Ventures, Ltd.
ROSENBERG — Hi Tec Power has purchased a 20,000-square-foot industrial building, located at 25707 SW Freeway in Rosenberg. Taylor Schmidt and Neil Martin of Houston-based Finial Group represented both the buyer and the undisclosed seller in the transaction.
CORPUS CHRISTI — La Palmera, a 1.02 million-square-foot super-regional mall located at 5488 S. Padre Island Dr. in Corpus Christi, has added five new retailers to its tenant roster. The new tenants include the 3,453-square-foot White House Black Market, the 2,313-square-foot Soma Intimates, the 4,885-square-foot 2b bebe, the 1,105-square-foot Traffic Shoes and the 6,350-square-foot Papaya. The mall will undergo a major redesign and renovation scheduled to begin in late 2012 and wrap up in 2013. The mall will be known as The Shops at La Palmera.