Texas Real Estate Business

FEB 2018

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

Issue link: http://texasrealestatebusiness.epubxp.com/i/935994

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www.REBusinessOnline.com Texas Real Estate Business • February 2018 • 13 S A N A N T O N I O FOCUSED REPRESENTATION • Over $650,000,000 of funded debt & equity transactions in 2017 • More than 1,600 completed assignments since inception • 90%+ historical closing ratio on engaged assignments • National Real Estate Investor "Top 25" Financial Intermediary www.metcapital.com DALLAS 972.267.0600 DENVER 720.626.6230 FOR OVER 25 YEARS MCA has arranged billions of construction loans, permanent mortgages, mezzanine and equity financing for commercial properties including: Multifamily Land Develpment Office Hospitality/Hotels Retail Single Tenant/User Healthcare Industrial/Warehouse Senior Living FEATURED FINANCINGS $45,000,000 Permanent Fixed Rate Mortgage Various G.S.A. Single Tenant Buildings GTH GSA Portfolio I Nationwide $39,700,000 Interim Bridge Loan Apartment/Office/Retail Mixed Use Project East 9 Pickwick Plaza Kansas City, Missouri $18,844,000 Interim Construction Loan 79,344 s.f. Retail Development Shops at Prosper Trail Prosper, Texas $17,500,000 Permanent Fixed Rate Mortgage 240 Unit Multi-Family Complex Dunes at St. Andrews Overland Park, Kansas BELLOMY & CO. ARRANGES SALE OF 606-UNIT SELF-STORAGE FACILITY SAN ANTONIO — Bellomy & Co. has secured the sale of the 606-unit Judson Self Storage facility located at 14989 Judson Road in San Antonio. Rockville, Md.-based Store It All Self Storage pur- chased the facility for an undisclosed price. Harry Botkin of HLB Invest- ments in New Braunfels represented the San Antonio-based seller. Bill Bello- my, Michael Johnson and John Arnold of Bellomy & Co. procured the buyer. The 129,573-square-foot Judson Self Storage was 72 percent occupied at the time of sale. WWC ACQUIRES 296-UNIT APARTMENT COMMUNITY FOR $19.5 MILLION SAN ANTONIO — Canadian invest- ment firm Western Wealth Capital (WWC) has acquired Sedona Canyon, a 296-unit multifamily community lo- cated at 4620 Thousand Oaks Drive in northeast San Antonio. The sales price was approximately $19.5 million. Built in the 1980s, the property offers ameni- ties such as a pool, fitness center, ten- nis court, business center and resident clubhouse. The sale marks WWC's third acquisition of a multifamily asset in San Antonio since entering the mar- ket in late 2017 and raises the volume of its holdings in the Alamo City to 776 units. BERKADIA BROKERS SALE OF NEW, 248-UNIT MULTIFAMILY COMMUNITY SAN ANTONIO — Berkadia has ar- ranged the sale of Chroma, a newly built, 248-unit multifamily community located at 5039 Hamilton Wolfe Road in northwest San Antonio. The property's location puts it within close proximity to the Huebner Oaks shopping center, which is anchored by an AMC The- aters, as well as University Hospital University Health System and Meth- odist Hospital. Built in 2016, Chroma features one- and two-bedroom units with hardwood style flooring, island kitchens, private patios, granite coun- tertops, nine-foot ceilings and washers and dryers. Community amenities in- clude a game room, business center, fit- ness center with spin room, resort-style pool, dog park and a coffee bar. Rents range from $1,020 to $2,150 per month, according to Apartments.com. Ryan Ep- stein, Will Caruth, Mike Miller, Chris Ross and Cody Courtney of Berkadia represented the seller, Flournoy Devel- opment Co., a Columbus, Ga.-based construction and management firm, in the transaction. O K L A H O M A HOME2 SUITES BY HILTON OPENS 115-ROOM HOTEL IN OKLAHOMA CITY OKLAHOMA CITY — Home2Suites by Hilton has opened a 115-room hotel located off Interstates 40 and 44 near Will Rogers Airport in Okla- homa City. The pet-friendly prop- erty features amenities such as a combined fitness and laundry area, an indoor saltwater pool and a fire pit and grill area. Suites offer fully equipped kitchens and modular furniture. Nashville-based Plati- num Hospitality LLC will manage the property. NEWCRESTIMAGE OPENS 142-ROOM AC HOTEL IN OKLAHOMA CITY'S BRICKTOWN DISTRICT OKLAHOMA CITY — NewcrestI- mage has opened a five-story, 142- room AC Hotel located in Okla- homa City's historic Bricktown neighborhood. NewcrestImage used modular construction to build the new AC Hotel, a first for both the Dallas-based company and Okla- homa City's hotel market. Modu- lar construction is a building tech- nique where a project is constructed in sections off-site and assembled together on-site. The new hotel features 800 square feet of meet- ing space, a fitness center, business center, fine dining restaurant and a European-style bar and lounge. The hotel's location offers convenient access to the 13,000-seat Chickasaw Bricktown Ballpark — which is the home of the Oklahoma City Dodg- ers minor league baseball team — and within a few blocks of the Cox Convention Center. The property is second hotel in the Bricktown area affiliated with NewcrestImage. BMC CAPITAL CLOSES $4.7 MILLION ACQUISITION LOAN FOR MULTIFAMILY ASSET IN OKLAHOMA CITY OKLAHOMA CITY — BMC Capital has arranged a $4.7 million acquisi- tion loan for a 148-unit multifamily community located in Oklahoma City. Clayton Wells of BMC Capi- tal's Dallas office arranged the 10- year, nonrecourse loan with a fixed 4.17 percent interest rate and a 30- year amortization schedule. The loan was arranged through one of BMC Capital's undisclosed agency relationships. The borrower, lender and name of the property were not disclosed.

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