Real Estate Briefs - Houston and Texas and National from Realty News Report

Houston area real estate briefs

Lee & Associates — Houston represented Southern Star Buske, LLC, in the sale of 18 acres on Conroe Park West Drive in Conroe. Mike Spears and Trey Erwin of Lee & Associates – Houston represented the buyer.……………………….……………………

Rhone Brittmoore Logistics, LP,recently purchased a former Nabors Drilling campus at 11330 Brittmoore Park Drive, consisting of about 111,530 SF of industrial office and manufacturing buildings on about 7.93 acres. Clay Pritchett and Zane Carman of NAI Partners represented the buyer while Cushman & Wakefield’s Jeff Peden, Scott Miller and David Cook represented the seller, Nabors Drilling Technologies USA, Inc. NAI Partners has been retained by the buyer to lease the property, with available spaces ranging from 16,000 SF to 111,530 SF.

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Lee & Associates – Houston represented Williams Brothers Construction Company in the sale of 15.32 acres on Highway 90 in Houston. Frank Blackwood and Trey Erwin of Lee & Associates – Houston represented the seller and Stephen Schneidau with Cushman & Wakefield Houston represented the buyer, IDEA Public Schools.

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KM Realty Investment Trust Inc., a Houston-based REIT, has purchased Morton & Fry Business Centerat 19909, 19911 and 19915 Morton Road from Reliant Commercial. The purchase represents a stabilized acquisition, with the development currently 100% leased. The realty firm now has 31 REIT-owned shopping centers. A total of 36,150 SF of gross leasable area will be added at Morton & Fry, bringing the realty firm’s existing portfolio of 651,000 SF.

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Lee & Associates – Houston represented Nazar Invest, Inc. in the sale of a 7,000 SF industrial property at 15015 Fondren Road in Missouri City, Texas. Preston Yaggi and Cameron Hicks of Lee & Associates – Houston represented the seller and Brett Dishman with Boyd Commercial, LLC, represented the buyer, Jacob Ponniah.

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PGIM Real Estate Finance has arranged a $48 million Freddie Mac unfunded forward commitment to provide permanent financing for Red Line Station,a planned 300-unit mixed-income apartment complex in Houston. PGIM is the commercial mortgage finance arm of PGIM Inc., the $1 trillion global investment management business of Prudential Financial, Inc. Red Line Station is in the Near Northside neighborhood. The site is part of the proposed 43-acre Hardy Yards master-planned mixed-use community.

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Texas Health School leased 12,899 SF at 11511 Katy Freeway in Houston. Kurt Kistler of Moody Rambin represented the owner. Ryan Hartsell with Oxford Partners represented the tenant in negotiations.

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Marcus & Millichap, a commercial real estate investment services firm, has announced the sale of 7200 Wynnpark Drive, a 37,736 SF industrial property in Houston. Adam Abushagur and Cary Latham had the exclusive listing to market the property on behalf of the seller, a private investor.

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NAI Partners announced that the Office Project Leasing Group in its Landlord Services Division has been selected by Dornin Investment Group as exclusive leasing agent for its 375,428 SF, three-building Houston office portfolio, including two buildings in the Energy Corridor—1250 Wood Branch and 15915 Katy Fwy (Ten Plaza West) and 11011 Richmond Ave. in the Westchase District (Columbia Centre). The leasing team, made up of David Bateman, Jacob Aldridge, Andy Parrish and Lesley Rice, will head up marketing and leasing for the development.

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NAI Partners recently arranged a 14,965 SF industrial lease for SRI Energy, Inc.at 12565 W. Airport Boulevard Blvd. in Houston. NAI Partners’ Jake Wilkinson and Darren O’Conor represented the tenant.

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NorthMarq, a commercial real estate capital firm, announces the acquisition of Kinghorn, Driver, Hough & Co., a Houston-based commercial debt and equity firm rooted in the Houston real estate community. Ray Driver, principal of KDH, will join Tony Gray and John Burke as a managing director of NorthMarq’s Houston office. The acquisition brings two well-known debt and equity groups together. Founded in 1945, KDH is one of the oldest, independently owned, commercial real estate capital companies in Texas. NorthMarq’s Houston office dates back to 1949; it was acquired by NorthMarq in 1998.

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NAIPartners recently arranged an 11,750 SF lease for Premier Masonryat 5726 Teague Road, Houston. NAI Partners’ Nick Terry represented the tenant and John Ginder with Caldwell Companies represented the landlord in the transaction.

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Jim Autenreith and Sam Rayburn of Moody Rambin leased 9,940 SF at Wallisville Industrial Park, 9159 Wallisville Road in Houston. The two men represented the building owner during negotiations.

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JLL Capital Markets has arranged acquisition financing for a multi-housing community in the Houston-are suburb of Katy. The firm worked exclusively for Hilltop Residential to arrange the four-year, floating-rate loan through a national bank. The community is located on 14.44 acres along Grand Parkway. Completed in 2013, it consists of one-, two- and three-bedroom homes averaging 933 SF.

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SHEspace has leased 6,000 SFat Lower Heights District, 2728 Summer St. in Houston. Bob Cromwell and Spencer Starkey of Moody Rambin represented the building owner while Brandi McDonald Sikes and Meredith Kelly of Limestone Commercial represented the tenant during negotiations.

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Summus Industries Inc. renewed a 5,730 SF lease for Two Sugar Creek, 77 Sugar Creek Blvd. inSugar Land. J.W. “Jay” Wall III of Moody Rambin represented the tenant while Craig McKenna and Mathew Volz of Stream Realty Partners represented the building owner, 77 Sugar Creek De, LLC.

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Texas real estate briefs

John Zogg, managing director of Crescent Real Estate, was named to the University of Dallas Gupta Business Hall of Fame. Zogg is a founding member of the advisory council for the Center for Real Estate Finance at the University of Texas at Austin McCombs School of Business.

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The Texas Women’s Foundation, a leading advocate statewide, has signed a long-term renewal and expansion for its headquarters office in Campbell Centre in North Dallas. The organization, one of the world’s largest women’s foundations, has expanded to 6,050 SF on the first floor of the class A project’s south tower at 8150 N. Central Expressway. Barbara Houlihan of JLL represented the landlord, Campbell Centre LLC.

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The Richland Companies announced several leases and renewals at S.A. West Loop II, a 170,453 SF retail center at 5407 Bandera Road the company owns and manages. nderson of Real Estate Resources represented the landlord, The Richland Cos. … Ismail Kirboga and Seymanur Kirboga signed a new one-year, 1,908 SF lease. ….. Duo Yaoyong has renewed a one-year, 2,300 SF lease…. Ministerios Amistad Christiana renewed a one-year, 3,722 SF lease.

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DALLAS – CBRE announced the completion of Phase I of Westridge Park, a new boutique office development by T2V Properties LLC in the burgeoning Las Colinas submarket. The three-story building was completed in December 2019 and features 34,000 square feet of Class A office space for lease.

National real estate briefs

Newmark Knight Frank announced the sale of Aragon Holdings, LLC’s national portfolio of apartment properties to Harbor Group International, a global real estate investment and management firm, for $1.85 billion. The firm’s Capital Markets Strategies and Multifamily Capital Markets groups provided financing and were led by Henry Stimler, Bill Weber and Matt Mense. NKF’s Zach Springer brokered the sale and leveraged NKF’s nationwide platform, cooperating with the portfolio team in local offices comprised of Mac Crowther, Brad Goff, Terrance Hunt, Brian Murphy and Scott Ramey. The portfolio includes 36 properties (3,243 units) spanning nine primary and secondary markets across eight states. The portfolio is most highly concentrated in Dallas/Fort Worth and Denver, with Houston, San Antonio, Atlanta, Orlando, Phoenix, Salt Lake City, Albuquerque, St. Louis and Kansas City, Mo., comprised the remaining markets.

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Trinity Street Capital Partners, a real estate investment bank, announces the origination of a $20 million, high-leverage, interest-only, bridge loan for the refinance of a CubeSmart self-storage facility in Seattle, Wash. The non-recourse, bridge loan had a three-year term, a low floating interest rate and was based off of 30-day Libor.

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