HOUSTON — Houston-based The Morgan Group has arranged $146 million for the refinancing of five multifamily properties in Texas, Florida and North Carolina, including 2222 Smith Street Apartments and 33 Thirty Three Apartments in Houston. The Houston properties were financed through BBVA Compass Bank and Northwestern Mutual Life.
DENTON AND LUBBOCK — HFF has secured $52 million in acquisition financing for the 125-unit The Retreat at Denton near the University of North Texas, located at 500 Inman St. in Denton, and the 218-unit The Retreat at Lubbock near Texas Tech University, located at 3824 Erskine St. in Lubbock. Dave Keller and Ken Martin of HFF's Indianapolis office arranged the 5-year loans through the Freddie Mac CME Program on behalf of the borrowers, Chicago-based The Scion Group and Arch Street Capital Advisors, which received $18 million for the Denton property and $34 million for the Lubbock property. The Scion Group has rebranded the properties as The Republic at Denton and the Republic at Lubbock.
TULSA, OKLA. — Dallas-based Metropolitan Capital Advisors (MCA) has arranged $35 million in mortgage financing for five apartment complexes in the Tulsa area, including Hunters Creek Apartments, Arbors of Southern Hills, Sand Dollar on the River, Pheasant Run and Silver Springs. The 1,250-unit portfolio is fully renovated and was 90 percent occupied at the time of the loan closing. Todd McNeill of MCA arranged the 10-year loan through the Fannie Mae DUS program.
SAN ANTONIO — NorthMarq Capital has secured $5.5 million in acquisition/senior financing for the 124-unit Hidden Oak Apartments, located at 13129 Military Hwy. NW in San Antonio. Luke Donahue of NorthMarq's Phoenix office arranged the 10-year loan with a 30-year amortization schedule through AmeriSphere Multifamily Finance, a Fannie Mae DUS Lender, on behalf of the borrower, Jevan Capital.
SPRING — Houston-based Hunington Properties has brokered the sale of the 12,600-square-foot Meadowedge Shopping Center, located at Interstate 45 and Cypresswood Dr. in Spring. The property is fully leased and shadow-anchored by Lowes Home Improvement. Todd Carlson of Hunington Properties represented the seller, a California-based private investor, in the transaction. Carlson will retain management and leasing responsibilities for the property.
DALLAS AND FORT WORTH — 7-Eleven has purchased the retail interests of 51 ExxonMobil locations in the greater Dallas/Fort Worth area. The majority of the stores will be rebranded as 7-Eleven stores but maintain the Exxon gasoline brand. The stores' rebranding is slated to be completed by the end of 2012.
WINDCREST — Dallas-based Stratford Land has acquired 111 acres of infill land, located at the northwest corner of Interstate Highway 35/410 North and Eisenhauer Road in Windcrest, a suburb of San Antonio. The site is called Eisenhauer Point and will house a mixed-use project, which will feature multifamily, retail, restaurant and entertainment properties. Steve Sanders of Stratford Land will oversee Eisenhauer Point's development.
DALLAS — The 170-room Stoneleigh Hotel & Spa, located at 2927 Maple Ave. in uptown Dallas, has become the newest member of the Luxe Hotels portfolio. The hotel will be known as The Luxe Stoneleigh Dallas Hotel & Spa in the second quarter of 2012. CAM Hospitality Management manages the property.
TEXAS AND OKLAHOMA — Conn's, a Dallas-based specialty electronics, appliance and furniture retailer, has plans to close five stores, located in Dallas (two), Houston, San Antonio and Edmond, Okla. After the closings, Conn's will have 64 total stores.
GRAND PRAIRIE — Bradford Commercial Real Estate Services has arranged a lease of a 92,500-square-foot industrial building, located at 1170-80 109th St. in Grand Prairie. Michael Spain of Bradford's Grand Prairie office and Jim Ferris of the firm's Dallas office represented the landlord, GP 1170 LLC, in the lease transaction. Lissa Cooke of Dallas-based Cooke Swaney & Cooke represented the tenant, NW Sign Industries.
