FORT WORTH — NorthMarq Capital has arranged $37.17 million in first mortgage financing for Broadstone Centreport, a 452-unit multifamily property at 14301 Centre Station Dr. in Fort Worth. Greg Duvall from Northmarq's Kansas City office arranged the financing on a 7-year term with a 30-year amortization schedule through NorthMarq's seller-servicer relationship with Freddie Mac.
BAYTOWN — E.E. Reed Construction has recently broken ground on AmeriPort Building II, a 168,480-square-foot distribution facility in the AmeriPort Industrial Park in Baytown. The facility was designed by Powers Brown Architecture and developed by National Property Holdings. The building is the first tilt-wall and structural steel building to be developed in the 723-acre industrial park.
RICHARDSON — Stream Data Centers has broken ground on a new data center development totaling 72,500 square feet at Renner Road and Wyndham Lane in Richardson. The project is expected to be delivered and ready for occupancy in May. Stream Data Centers is hoping to achieve LEED Gold certification for the facility. The building is the first purpose-built wholesale data center built from the ground up in north Texas.
MANSFIELD — Arch-Con Construction has recently broke ground on a 12,000-square-foot multi-tenant retail center at Hwy. 287 at FM 157 in Mansfield for Pittsburgh-based Kossman Development Co. The retail center is part of a planned 400,000-square-foot retail development. The retail center is slated to be finished in December.
AUSTIN — Berkadia Commercial Mortgage originated $19.89 million in construction financing through its HUD/FHA program for Lotus Village Apartments, a 222-unit apartment community that will be located at 300 Ferguson Dr. in Austin. The community will consist of 10 three- or four-story buildings with an average 922 square feet per unit. Berkadia’s Steve Mentesana and Tim Nunan originated the 4.4 percent fixed interest loan on a 40-year term with a 40-year amortization schedule.
DALLAS — Elm Place, a 1,293,586-square-foot office property at 1401 Elm St. in downtown Dallas, has been sold. David Glasscock of Colliers International represented the owners of both the 43-story, 864,702-square-foot tower, SCI ROEV, and the owner of the lower nine stories comprising 428,884 square feet, LNR Partners. The buyers are investors from Eastern Europe. The 52-story building used to house First National Bank, but has been vacant since 2010 because of the recession.
AUSTIN — A newly formed joint venture between Brennan Investment Group and TriGate Capital has acquired a 137,635-square-foot industrial portfolio in Austin, marking the joint venture’s first acquisition. Transwestern’s Luke Wheeler and Hale Umsted represented the seller, Unum Group, and CB Richard Ellis’ John Barksdale and Greg Marberry represented the joint venture. The portfolio includes three buildings in three separate submarkets of Austin that are currently 76 percent occupied by 11 tenants. The joint venture received acquisition financing from Aetna, Inc. and they plan to make capital improvements to the facility in the near future.
SAN ANTONIO — CB Richard Ellis has arranged the loan refinance of Promontory Pointe, a 596-unit apartment community located at 4114 Medical Dr. in San Antonio. CBRE’s Charles Foschini, Christian Lee, Tracy Kennedy and Christopher Apone arranged the financing through Freddie Mac on behalf of Advenir@Promontory, LLC, which owns Promontory Pointe. The loan has a 10-year term with an extended interest-only financing period at 80 percent loan-to-value. The apartment community was built in 1995 and features two swimming pools and two tennis courts.
HOUSTON — LMI Capital has arranged $38 million in acquisition financing for nine apartment communities totaling 2,364 units in Houston. The loans were a mix of bridge and permanent funding through nine different lenders, including Fannie Mae. LMI Capital’s Jamie Mullin and Brandon Brown arranged the financing for the properties, including Applewood Townhomes, Bellestone Villas, Colony Oaks, Indigo Falls, Madison Bear Creek, Palm Bluffs, Trails of Woodlake, Water Mill and Westheimer Terrace.
ARLINGTON — An affiliate of Southside Financial Group, a subsidiary of Southside Bank, has acquired a 19,475-square-foot office building at 700 W. Arkansas Ln. in Arlington. The one-story office building sits on a 5-acre parcel. Chase Bank occupies 9,617 square feet, and Southside Financial plans to occupy the remaining 9,858 square feet. SCM Real Estate Services’ Gary Walker and Renee Efimoff represented Southside, and CB Richard Ellis’ Bryan Graham represented the seller.
