Snowy Day Deal Sheet
| We're hoping none of you were on Loop 12 in the big pile-upTuesday or are among the 150 flight departures canceled at DFW Airport today. Hopefully, you're enjoying a nice toasty snow day of telecommuting with your kids underfoot (like us). | |
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| Our version of the North Texas 'burbs. We avoided the icy roads just like Haynes & Boone partner Ann Saegert. However, Ann's fellow law firm partner Steve Jenkins braved the streets because ?I?ve gotfour-wheel drive.? No doubt Steve will also use those same wheels to get to Bisnow's Feb. 17 Healthcare Real Estate Summit, where he'll be a moderator for one of our expert panels. Catch the early bird $39 before the price increases tomorrow. | |
| LEASES Kiser Harriss Chemical Distribution Centers leased 104k SF of office/warehouse space at 1800 Kelly in Carrollton for its southwest distribution center. David Little Real Estate's Larry Eubanks andDavid Little negotiated the lease with Lee and Associates? Ken Wesson, who repped the owner, Cobalt Industrial REIT. Larry also negotiated a 12k SF deal at 6652 Pinecrest in Plano for APEX Merchant Group with Lincoln Property Co's Michael Peinado. FINANCING BMC Capital originated two loans totaling almost $4M for therefinance of existing debt on New World Apartments, a 150-unit multifamily property in Dallas and placement of new debt on Wedgewood Apartments, a 118-unit multifamily property in Fort Worth. ?We were able to structure the loans to maximize return for the owner who plans to continue to hold these assets,? says Barrett Linburg, a loan officer in BMC Capital's Dallas HQ. The new loans have five-year fixed rates starting around 5.6% on 65% LTV mortgages. The loans also feature 30-year amortization with five-year options to renew. ?We timed the closing to match the expiration of the existing loan?s prepayment penalty,? Barrett adds. *** | |
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| NY-based Broad Street Advisors arranged the JV equity andconstruction financing for 1400 Hi Line, a 23-story mixed-use project in Dallas. It will contain 314 multifamily units and 27k SF of retail, for a grand total of 340k SF. The owner is a JV between certain affiliates of Houston-based PM Realty Group and DC-basedNational Real Estate Advisors. The construction financing is provided by U.S. Bank. Broad Street Advisors was the exclusive advisor for both the equity and debt transactions. Broad Street managing partner Robert Rizzi handled the transactions. *** An HFF transaction team including professionals from New York, San Francisco, and Dallas arranged $205M in first mortgage financing for The Bravern Office Commons, a 750k SF Class-A office property in Bellevue, Wash. HFF senior managing directors Michael Tepedino and Bruce Ganong and executive managing director Jody Thornton worked on behalf of the borrower, Principal Global Investors, to secure a 10-year, fixed-rate loan through Pacific Life Insurance Co. Loan proceeds were used in connection with the acquisition of the office and garage components of the property. | |
| NEW BUSINESS The Cantrell Co was awarded the exclusive listing for 200-unit Eagles Landing Apartments at 238 E. Oates in Garland. Though the property is lender-owned, it's near market occupancy, they tell us.Bids are due March 3. *** Bright Realty was awarded the leasing assignment for the almost36k SF Braewood Shopping Center in Coppell. Bright Realty commercial leasing agent Tony Albanese handled the Braewood transaction. This is Bright Realty's second assignment for Eagle Equity. *** The Richland Cos named Hudson Peters as its exclusive leasing agent to represent Richland's four Irving commercial real estate properties: Royal Jetstar at 4040 Royal Lane, Royal Freeport at 4343 Royal Lane, Gateway West at 2901 Gateway Dr and Gateway South at 6025 Commerce Dr. KUDOS | |
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| The AT&T Performing Arts Center Dee and Charles Wyly Theatrewas selected as one of 27 recipients (out of 700 submissions) for the American Institute of Architects Institute Honor Awards. The design architect of the project is REX/OMA and the associate architect isKendall/Heaton Associates. PEOPLE IN THE NEWS HKS promoted Larry LeMaster to principal and the following staffers were promoted to associate principals: Bernita Beikmann, Jonathan Kelley, Frank Kittredge, Paul Liptak, Jason Schroer, and Michael Ufer. Rupert Brown, Shane Mommers, and Rachel Saucier, were promoted to VP. And, promoted to associates were: Rick Bryan,Natalie Fowler, Hilari Jones, Justin Kazynski, Kumar Madaswamy, Ruel Mendoza, Tina Pope, Swetha Sadananda,Emily Seibert, Gregg Teal, Alison Vaughn, Mary Wysong, andLea Yaest. *** Kendall Ibsen joined the Retail Connection as a VP of brokerage. Kendall plays a dual role in both project leasing and tenant rep. She was a leasing representative at MGHerring and was directly involved with the leasing of more than 750k SF of prime retail in at The Village at Allen, The Village at Fairview, and Uptown Village at Cedar Hill. *** JLL hired Andrew Porteous as a VP for capital markets. Andrew specializes in the sale and financing of multifamily properties. He will work under managing director Michael Lewis. Andrew was a VP for PBL Capital multi-strategy hedge fund, where he was responsible for the asset management of more than $105M in assets. *** Good Fulton & Farrell promoted architect Evan Beattie to principal. Recently, he served as the project leader for The Canyon in Oak Cliff for Stratford Land, Vitruvian Park for UDR, and the Alta Henderson Apartments for Wood Partners. *** Cary Tremper joined KeyBank Real Estate Capital as SVP and national sales manager for the Seniors Housing Agency Lending Group. Cary will manage a team of healthcare sales professionals and real estate analysts. Previously, Cary served as SVP and managing director for Guaranty Bank and BBVA Compass? healthcare real estate lending group where he was responsible for managing a $1B healthcare portfolio. *** Bradford promoted Brian Pafford and Michael Spain to managing partners. Both were top producers in 2010 for the firm. Brian leadsmarketing activities and business development of theindustrial/flex portfolio in the Stemmons I-35 and Northwest Dallas corridors. Michael?s territory is the Great Southwest industrial district and mid-cities, where he also focuses on marketing industrial/flex properties and business development. Bradford?s newest broker isShawn Hall, a 17-year veteran joining the firm as market director. *** Integrated Design Group added Eric Song as electrical engineer andMartin Herbert as mechanical engineer. Additionally, principal Jack McCarthy relocated to Dallas to lead the office?s growth along with regional manager Brad Gray and Tom Ames in business development. *** Stratford Land added Allan Katz as legal counsel. He'll be responsible for handling and coordinating the legal aspects for a portion of the Stratford Funds' land investments, including preparation and negotiation of legal documents for acquisition and disposition. | |
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| Gateway Church recently opened its newest campus, designed byThe Beck Group, in Southlake. The 206k SF space includes a4,000-seat sanctuary and children?s facility. The new building is part of Beck?s master plan concept (on a 180-acre site), which will allow the church to eventually expand up to 1.2M SF. *** The 108k SF Phase I of Methodist Hospital for Surgery in Addison opened recently. BOKA Powell provided the planning, architectural design, and interior design services for this project, which broke ground in November 2009. The project team includes Medica Development as project developer, Rogers-O?Brien Constructionas GC, Zinser/Grossman Structural as structural engineer, TLC as MEP engineer, TBG Partners as landscape designer, and Kimley-Horn as civil engineer. *** Irving's 98k SF Hills at Decker Court office complex, which is leased and managed by Grubb & Ellis, cut the ribbon on Jan 19. The pair of two-story office buildings, each 49k SF, are located at 100 and 102 Decker Court, close to SH-114. Grubb & Ellis managing directorKathy Permenter, SVP Russ Johnson, and associate Noreen Mehdi are leasing office suites while Grubb & Ellis Management Services senior property manager Miranda Drymon is overseeing the day-to-day operations for owner Fausset Neely. | |
| SALES Henry S. Miller Brokerage associate John Bielamowicz completed negotiations for the sale of an 8k SF warehouse and distribution center in West Dallas. John repped the owner, California-basedLoren Sign Co. Independent seller Jackie Carter repped the buyer. *** Henry S. Miller Brokerage EVP Jim Turano repped the buyer, an undisclosed local investor, in the acquisition of an almost 8k SF MOB in Mansfield. At the southeast quadrant of FM 157 and Hwy 287 at 1788 FM 157, the site 100% occupied by a medical user. Independent broker, Sami Ebrahim, repped the the seller, St. George Medical Office. *** Mattress manufacturer Suncom Holdings purchased a 179k SFwarehouse/distribution facility on 10.7 acres at 4250 Cambridge Dr in Fort Worth. The purchase price was not disclosed. Suncom will expand from its current location in Dallas to its new home in the Centreport Industrial Park. Philadelphia-based real estate firm Binswanger closed the sale on behalf of the seller, Nestle Waters North America. Binswanger SVP Holmes Davis represented the seller. NAI Robert Lynn?s Craig Jones represented the buyer. |
