WICHITA FALLS — Marcus & Millichap has brokered the sale of the 88-unit The Timbers Apartments, a distressed property located at 500 Fillmore St. in Wichita Falls. Mason Green and Boyan Radic of Marcus & Millichap's Fort Worth office represented both the buyer, a San Diego, Calif.-based limited partnership, and the seller, the original developer's family.
SUGAR LAND — NorthMarq Capital has arranged $1.2 million in first mortgage financing for the 3,745-square-foot Taco Cabana, located at 16770 Southwest Freeway in Sugar Land. Bart Dickinson of NorthMarq's Dallas office arranged the financing based on a 10-year term with a 25-year amortization schedule through StanCorp Mortgage Investors.
DALLAS — UCR Commercial Realty has arranged the sale of the 205,812-square-foot Caruth Plaza, a specialty retail center located at the corner of U.S. Highway 75 and Park Lane in Dallas. Caruth Plaza is 96 percent leased to tenants such as Bed Bath & Beyond, Sports Authority, TJ Maxx and AT&T. David Disney and Adam Howells of UCR's Dallas office represented the seller, Dunhill Partners, in the transaction. The buyer was an affiliate of North American Development Group.
AUSTIN — Southern Cross Construction has broken ground on 302-unit RiverView, an upscale apartment community that sits on a waterfront site by Lady Bird Lake in Austin. The 280,000-square-foot community will feature amenities such as a fitness center, business center, pool, resident lounge and a landscaped courtyard. BOKA Powell designed the development to LEED Silver certification standards. Dallas-based CDK Realty Advisors provided construction financing for the project, and The Whitworth Company is providing project management services.
HOUSTON — American Realty Capital Trust has acquired two Advance Auto Part Stores in Houston for $3.1 million. The two properties are fully leased to Advance Stores Co. and total 13,471 square feet.
PROSPER — Baylor Family Medicine at Prosper has opened in a 4,700-square-foot facility in the 16,000-square-foot Eagle Crossing II, a mixed-use development located at 861 N. Coleman in Prosper. Dallas-based Lee Design Group, under a contract with Health Texas Providers Network, designed the medical space. Eagle Crossings II was constructed by Crossland Construction Co.
TULSA, OKLA. — Dallas-based Metropolitan Capital Advisors has arranged two mortgages for the 226-unit Arbors of Southern Hills and the 328-unit Sand Dollar on the River in Tulsa. Both properties (located at 6630 S. Zunis Ave. and 910 E. 61st St. S., respectively) are more than 90 percent occupied. Todd McNeill of MCA arranged both loans with 10-year term and 30-year amortization schedule through a Fannie Mae DUS loan program.
HOUSTON — NorthMarq Capital has arranged permanent financing for the 304-unit Broadstone West 18th, a multifamily property located at 2727 W. 18th St. in Houston. Greg Duvall of NorthMarq's Kansas City, Mo., office arranged the financing with a 10-year term and 30-year amortization schedule through AmeriSphere Multifamily Finance on behalf of the borrower, West 18 Street Apartments Owner.
HOUSTON — Consolidated Container Co. of Texas has leased 93,170 square feet of industrial space, located at 3262 E. Loop N. in Houston. Edward Bane of Holt Lunsford Commercial's Houston office represented the landlord, TA Associates Realty. Ron Roberson and Scott Heard of Caldwell Cos.' Houston office represented the tenant in the lease transaction.
OKLAHOMA CITY, OKLA. — The Dean McGee Eye Institute has opened its new $46 million, 78,000-square-foot research and clinical facility, located at 608 Stanton L. Young Blvd. in Oklahoma City. The new facility adjoins the existing facility, which houses the University of Oklahoma's Department of Ophthalmology.
