WICHITA FALLS — Santa Fe Village, a 61-unit apartment community located at 2006 Santa Fe St. in Wichita Falls, has been sold to a private investor in an all-cash transaction. Built in 1972, the multifamily property consists of five two-story buildings on a 1.44-acre lot that house studio, efficiency, one-bedroom, two-bedroom and three-bedroom units. A California-based family trust, represented by Boyan Radic of Marcus & Millichap's Fort Worth office, sold the property. Peter Flis of Marcus & Millichap's Sacramento, Calif., office represented the private investor, who plans to upgrade the property's exterior appearance.
DESOTO — South Point Apartments, located at 1021 Pecan Crossing Dr. in DeSoto, has sold to Austin-based South Point Partners of Texas. Constructed in 1985, the multifamily property consists of 32 studio, 72 one-bedroom and 24 two-bedroom units. LNR Texas Partners, a Texas limited liability company, sold the property and was represented by Peter Hartnett of Hendricks & Partners Dallas office.
FORT WORTH — John Burke of NorthMarq Capital's Houston office has arranged first mortgage financing of $6.5 million for Stockyards Center, a 102,910-square-foot, grocery-anchored shopping center located at 201 N.E. 28th St. in Fort Worth. A long-term, fixed-rate loan was arranged for the borrower, Houston-based United Equities, through NorthMarq's correspondent relationship with Aetna.
DALLAS — A California-based family trust has sold Calais Slopes & Eastridge Condominiums, a 61-unit multifamily property on Eastridge Drive in Dallas, to Building Portfolio Investments V, LLC, a Colorado limited liability corporation. Mark Porterfield of Henry S. Miller Brokerage's Dallas-Fort Worth Multifamily Investments Division represented the buyer and arranged financing through an eight-month assumption program with Berkadia Commercial Mortgage.
AUSTIN — Gila, a company offering outsourced collections, payment processing and call center services to government entities, financial and higher education institutions nationwide, has leased 54,865 square feet in McShane Development Co.'s Tuscany Technology Center Building 4 in Austin. The business park is situated on U.S. Highway 290, 3 miles from Interstate 35. Chad Barrett, Robert Shore and Bart Matheney of Aquila Commercial represented McShane, while John Bundy of Development 2000 represented Gila.
DALLAS — Upper E Apartments, a 466-unit, Class B multifamily community located along Gaston Avenue and Live Oak in east Dallas, has sold for an undisclosed price. An affiliate of the Archon Group sold the property, which was 92 percent occupied, to New York-based Rolling Cash Opportunity Fund. ARA Dallas represented the seller.
ODESSA — Parks Methodist Retirement Village, located on Faudree Road in Odessa, is expanding by developing a single-story assisted living building with 70 apartment units as well as a four-story, 80-unit independent living apartment building. Amenities will include a new industrial kitchen, a new dining hall, Wi-Fi, a salon/spa, an exercise center, a library and a computer room. Sears Methodist Retirement System and Prevarian Senior Living are completing the expansions.
AUSTIN — Arbor Pointe apartments, a garden-style multifamily community consisting of 344 units on 13 acres off Pleasant Valley Road in southeast Austin, has sold. The property was 91 percent occupied. Andrew Shih and Pat Jones of ARA Austin represented the seller, Walnut Creek, Calif.-based Bridge Partners. The Class B asset is situated approximately 3 miles from the University of Texas campus.
HOUSTON — The University of Houston is expanding its health facilities by adding a six-story, 167,000-square-foot Health and Biomedical Science Center. Groundbreaking took place last week and the project is expected to be completed in mid 2012. It will add a new ambulatory surgery center to the College of Optometry as well as space for outpatient cataract surgery and LASIK surgery.
HIGHLAND VILLAGE — The Shops at Highland Village, located at the intersection of FM 2499 and FM 407 in Highland Village, has leased more than 11,000 square feet of retail space plus an outparcel to six new merchants. Buffalo Wild Wings is currently under construction at the corner of FM 407 and Chinn Chapel Road, and Jack's Outfitters, Sprint, Brookstone, Calendar Club and Inspired Yoga Studio have all taken space in The Shops at Highland Village. Regency Centers leased the property.