OKLAHOMA CITY — RRA Capital, a commercial bridge lender with offices in Phoenix and New York City, has provided a $20.6 million acquisition loan for a 252-unit apartment community in Oklahoma City. The property at 11239 Pennsylvania Ave. was built in the 1970s and offers one- and two-bedroom units. The borrower, GreenLite Holdings, plans to implement a value-add program that will upgrade the pool and clubhouse and install new appliances, flooring, lighting, plumbing and windows in the unit interiors. Bryan Liu and Bryan Mummaw of Northmarq arranged the debt.
BROKEN ARROW, OKLA. — Dallas-based developer Berkshire Lane Development Partners (BLDP) will build a 182-unit garden-style multifamily project in Broken Arrow, a southeastern suburb of Tulsa. Berkshire @1Eleven will offer one- and two-bedroom units with stainless steel appliances, quartz countertops, tile backsplashes and individual washers and dryers. Amenities will include a pool, fitness center, and open green space. The first units are expected to be available for occupancy in summer 2025.
IRVING, TEXAS — Partners Real Estate has arranged the sale of a 13,530-square-foot industrial property in Houston. According to LoopNet Inc., the facility at 2300 Penn St. was built in 1984 and features 14-foot clear heights and six grade-level doors. Hanes Chatham Jr. and Graham Dressel of Partners represented the seller in the transaction. Rad Realty Group LLC represented the buyer, Garcia Laser Screeding. Quinn Conway of Partners arranged acquisition financing for the deal.
DALLAS — General contractor and construction management firm Swinerton has topped out Bridge Labs at Pegasus Park, a 135,000-square-foot life sciences project in northwest Dallas. The project represents the latest phase of the 23-acre Pegasus Park development. A partnership between Montgomery Street Partners, J. Small Investments and Lyda Hill Philanthropies owns Pegasus Park, the master plan of which also includes an 18-story tower with 538,000 square feet of office space and a brewery/restaurant. Full delivery is slated for the second quarter of 2024. Jim Curtin and Andrew Gray of JLL, along with Jason Piering of Hamilton Realty Finance, arranged financing for the redevelopment that included a five-year construction loan from Interbank and C-Pace financing through Nuveen Green Capital.
HOUSTON — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Icon at Yorktown, a 115-unit apartment complex in northwest Houston. Built on three acres in 2021, Icon at Yorktown offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor grilling stations, package lockers, resident lounge and a coffee bar. Travis Austin, Greg Austin, Jackson Hart, Drew Kile and Will Balthrope of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
PLAINVIEW, TEXAS — MYCON General Contractors has begun construction on a 21,910-square-foot industrial project in Plainview, located roughly midway between Lubbock and Amarillo in West Texas. The facility will consist of five pre-engineered metal buildings and a prefabricated guard shack on a 4.5-acre site and will be used to manufacture electronic-grade sulfuric acid for the cleaning and etching of computer chips. Delivery is slated for next May. The developer is a joint venture that includes Samsung.
DALLAS — Market research firm Fieldwork has signed a 14,102-square-foot office lease at Providence Towers, a 524,143-square-foot complex in North Dallas. The property is currently undergoing a multimillion-dollar capital improvement program. Kim Brooks, Justin Miller, Scott Walker and Laney Delin of Transwestern represented the landlord, California-based investment firm KBS, in the lease negotiations. Jonathan Hill of Morrow Hill represented the tenant.
DALLAS — Southern California-based office furnishing company Tangram Interiors has opened an 12,000-square-foot showroom at 300 S. Pearl Expressway in the East Quarter area of Dallas. According to LoopNet Inc., the building was constructed in 2021, rises seven stories and totals 194,672 square feet. About 40 of Tangram Interiors’ 75 employees will work at the showroom.
DALLAS — Rubenstein Partners is underway on the redevelopment of the 27-acre former PepsiCo office campus in Plano. The Philadelphia-based developer is currently renovating the 250,000-square-foot building at 5600 Technology Drive, which the company purchased in 2022. Capital improvements include a new lobby and entryway, along with a new tenant lounge, coffee bar and fitness center. Exterior improvements include a new façade with enhanced landscaping, as well as the addition of outdoor seating areas and pickleball courts. Dallas-based GFF is overseeing the design of the project, which is expected to be complete by the end of the year.
FORT WORTH, TEXAS — Developer and operator Tradition Senior Living has completed construction on a 297-unit project within the 270-acre Clearfork mixed-use development in Fort Worth. The Tradition-Clearfork offers 214 independent living residences and 95 assisted living and memory care units. Residences come in one- and two-bedroom formats and range in size from 880 to 2,200 square feet. Residents have access to 24-hour concierge and valet services, secure parking and transportation options. Common areas include lounges, card rooms, a movie theater, fitness center, pool and other spaces for daily social activities and wellness programs. Jackson & Ryan Architects designed the project, and Rogers-O’Brien Construction served as general contractor.