Texas

HOUSTON — Newport Beach, Calif.-based KBS Strategic Opportunity REIT has purchased the 400,101-square-foot 1800 West Loop South, a 21-story office tower located in Houston's West Loop/Galleria submarket. The property is 88 percent leased. KBS plans to upgrade the lobby and elevators of the property, which features a deli, laundry and dry-cleaning services and an 11-story parking garage. KBS-affiliated companies own four other Houston-area properties totaling 1.3 million square feet, including Ten West Corporate Center, Two Westlake Park, Clay Crossing and 8300 FM 1960. Charles Schreiber, Jr., Peter Bren, Keith Hall and Peter McMillan III of KBS Realty Advisors sponsored the buyer in the transaction, and KBS Capital Advisors LLC advised the REIT.

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AUSTIN — Hunt Investment Management, an affiliate of Hunt Cos., has sold the 2,044-unit Riata Town Center and Apartment Villages, a master-planned multifamily community located in Austin's Arboretum district. The community features a resort-style swimming pool, jacuzzi, fire pit, picnic grove, 11,000-square-foot fitness center, lake, jogging trails, beach volleyball courts, indoor racquetball courts, basketball courts, 200 gas grills, eight car wash stations and two dog parks. Thomas Delaney and John Musgrove of Hunt Investment Management managed the sales process with the seller's brokerage firm in the all-cash transaction.

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FORT WORTH — Marcus & Millichap has arranged the sale of The Edmundton, a 20-unit apartment building located on Birchman Avenue in Fort Worth. Boyan Radic and Mason Green in Marcus & Millichap's Fort Worth office represented the seller, a Utah-based partnership, in the transaction. Radic and Green also secured and represented the buyer, Fort Worth-based Edmundton Apartments LLC. A local bank provided acquisition financing for the transaction.

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MIDLOTHIAN — Berkadia Commercial Mortgage has secured $13 million in permanent financing for the 180-unit Timber Oaks Apartments, located in Midlothian. The property is 95 percent occupied and features a pool and a 24-hour fitness center. Greg Golden and John Koeijmans of Berkadia arranged the 10-year, fixed-rate loan that will amortize over 30 years through Fannie Mae on behalf of the borrower, Midlothian Timber Oaks LP.

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HOUSTON — Marcus & Millichap has brokered the sale of a 14,520-square-foot industrial property, located at 1721 Oak Tree in Houston. Derek Hargrove of Marcus & Millichap's Houston office represented the buyer, Lynnthree Holdings, in the transaction. Gary Brown of Gary Brown & Associates represented the seller, a private investor.

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CORPUS CHRISTI — NorthMarq Capital has arranged first mortgage refinancing for the 72,793-square-foot Sun Plaza Office Building, located at the intersection of Holly Road and South Staples Street in Corpus Christi. The property's tenant roster includes Stewart Title, NRG Energy, AT&T and Falcon Healthcare. Warren Hitchcock of NorthMarq's Houston office arranged the 10-year loan with a 30-year amortization schedule through a CMBS lender on behalf of the borrower, Sun Real Estate LLC.

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DALLAS — Colliers International North Texas has been selected to oversee the property management of the office and retail portions of the 1.1 million-square-foot Republic Center, a mixed-use development located at 325 N. Saint Paul St. in downtown Dallas. The development includes a residential component as well. Four Point Star, LP, owns Republic Center, which was built in 1954 and underwent a $75 million renovation in 2000.

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