Texas Real Estate Business

OCT 2017

Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.

Issue link: http://texasrealestatebusiness.epubxp.com/i/885420

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A U S T I N & C E N T R A L T E X A S 20 • October 2017 • Texas Real Estate Business www.REBusinessOnline.com S A N A N T O N I O & S O U T H T E X A S ODEN HUGHES TO BUILD 57-ACRE MULTIFAMILY ASSET SAN ANTONIO — Austin-based de- velopment and construction firm Oden Hughes will build a 57-acre mul- tifamily property at the intersection of Loop 1604 and Bulverde Road in San Antonio. The development, which has yet to be branded, will eventu- ally feature 1,000 apartment units that will be delivered in three phases. The company will break ground on Phase I, which will deliver 338 Class A units, later this week. Scheduled to open in late 2018, this phase will also feature a two-level pool, fitness center, running trail and a dog park. JLL BROKERS SALE OF 64-UNIT APARTMENT COMMUNITY IN KINGSVILLE KINGSVILLE, TEXAS — JLL has bro- kered the sale of Barcelona Apart- ments, a 64-unit multifamily com- munity located along the Interstate 69 corridor in Kingsville, about 40 miles southwest of Corpus Christi. Scott LaMontagne and Zar Haro of JLL represented the seller, Coastal Barce- lona LLC. Canopy Apartments LLC purchased the property for an undis- closed price. The new ownership will implement major renovations and im- provements in the near future. ELECTRA AMERICA BUYS 344-UNIT APARTMENT COMMUNITY SAN ANTONIO — Electra America, a multifamily investment and manage- ment firm with offices across the East Coast, has acquired Pecan Springs, a 344-unit multifamily community in San Antonio. Built in 2013, the proper- ty offers a mix of one-, two- and three- bedroom units and amenities such as a pool, fitness center and a dog park. The property was 95 percent occupied at the time of sale. HUNT MORTAGE SECURES $6.7 MILLION REFINANCING FOR MULTIFAMILY ASSET SAN MARCOS, TEXAS — Hunt Mort- gage Group has secured $6.7 million in refinancing for Champion's Cross- ing Apartments, a 156-unit, garden- style multifamily property in San Marcos. The Freddie Mac loan fea- tures a seven-year term, 24 months of interest-only payments and a 30-year amortization schedule. Hunt Mort- gage secured the funds on behalf of an undisclosed management firm with a portfolio of roughly 30,000 multi- family units. The financing is part of a $20.5 million package secured by Hunt Mortgage Group for two multi- family properties, the other of which is located in Round Rock. STREAM BROKERS SALE OF 109,165 SF INDUSTRIAL ASSET SAN ANTONIO — Stream Realty Partners has brokered the sale of 12626 Silicon, a 109,165-square-foot warehouse/distribution center locat- ed in the University Park area of San Antonio. Jason Schnittger and Kevin Cosgrove of Stream represented the seller, First Industrial Realty Trust Inc., in the transaction. Dan Gostylo and Seth Prescott of Providence Com- mercial Real Estate Services represent- ed the buyer. NAI ARRANGES SALE OF 41,616 SF MEDICAL OFFICE BUILDING SAN ANTONIO — NAI Partners has arranged the sale of a 41,616-square- foot medical office building located at 8307 Gault Lane in San Antonio. Joshua Swank of NAI represented the seller, a private partnership, in the transaction and procured the buyer, a group of private investors. Other terms of sale were not released. PLUCKERS WING BAR TO OPEN 7,400 SF LOCATION IN SELMA SELMA, TEXAS — Austin-based res- taurant chain Pluckers Wing Bar will open a 7,400-square-foot location within Forum Pointe Shopping in Selma, a northeastern suburb of San Antonio. Whit Jordan of CBRE repre- sented Pluckers in the site search and lease negotiations. The new location, which will be the company's 23rd overall and its first in the San Antonio area, is expected to open in 2018. FREEDOM CROSSING AT FORT BLISS F R E E D O M C R O S S I N G AT F O R T B L I S S . C O M • J O I N U S O N E L P A S O , T E X A S More than 127,000 active & retired military personnel/families BLISSFULLY YOURS EXPERIENCE Dan Frey - 512.682.5507 Current annual sales on Fort Bliss exceed $275 million 461,435 sf GLA with more than 30 restaurants & retailers First-ever open-air town center on a U.S. military installation Anchors: The Grand Theatre 10, The Exchange & Commissary VISIT US AT TEXAS ICSC BOOTH #520

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