The 10-year US Treasury, currently at 2.38%, has been rising lately. According to the Labor Department, the US economy created 228,000 jobs in November while the unemployment rate held steady at 4.1%. Federal Reserve policymakers have been concerned with the lack of income growth, although the Fed is still expected to raise the central bank's benchmark interest rate a quarter point next week. With the US equity markets near all-time highs, agency multifamily financing is extremely aggressive and the banks are keeping pace, according to a recent report by Marcus & Millichap.—Lisa Brown

NEWS AND NOTABLES

DALLAS—Charles Keels has been promoted to president of Encore Multi-Family LLC. Keels, a nine-year veteran of Encore, has served the multifamily division as vice president, development and finance, and has been preparing for transition to this leadership role during the past year.

DENVER—Mass Equities Inc., a private equity real estate investment firm based in Santa Monica, CA, has announced the appointment of Brian W. Bair as principal, senior vice president acquisitions and development for Colorado.

DEAL TRACKER

AUSTIN, TX—WIT Transmissions Inc. leased 9,983 square feet at 9503 Brown Ln. The landlord was represented Ryan Wilson and Matt Fain with ECR.

AUSTIN, TX—VTF Holding LLC purchased 1815 W. 35th St. The retail property will serve as new headquarters for Bell and Bird, a high-end jewelry company based in Austin. The buyer was represented by Matt Fain with ECR and seller was represented by Dan Lewis with TIG.

DALLAS—STRIVE recently announced the sale of In-N-Out Burger. Located just off of Dallas North Tollway and north of Belt Line Road in Dallas, the ground lease has 14 years left on a 20-year original term lease. James Mangum & Adam Gottschalk of STRIVE exclusively represented the seller, a local investment group, in the transaction. The buyer, also a local Dallas investor, closed the sale in 30 days in an all-cash, 1031 transaction. Additional terms of the sale were not released.

DALLAS—Adira Apartments, a 164-unit apartment property and The Corners, a 242-unit apartment complex, have sold. Al Silva, senior managing director investments, Ford Braly, senior associate and Mark McCoy, associate in Marcus & Millichap's Fort Worth office, had the exclusive listings to market the properties on behalf of the two separate sellers, a private Dallas-based partnership and a California-based investment fund. The two separate buyers, both of which were Dallas-based investment companies, were secured by the Silva Multifamily Team as well.

DALLAS—JLL negotiated a new office lease for national marketing firm, LST Marketing. The Indianapolis-based company is opening a new Dallas office at Travis Walk located at 4514 Travis St. JLL managing director Brad Selner negotiated the lease on behalf of LST Marketing. Cushman & Wakefield's Ward Eastman and Lauren Napper represented the owners.

DALLAS—ML Realty Partners recently completed 217,560 square feet of industrial real estate lease transactions in the Dallas-Fort Worth area. Six of the seven deals represent new lease transactions and one is a lease renewal. The following tenants have leased space throughout the area: G & C Direct Mail Marketing Inc. at 1125 N. Union Bower Rd., Suite 150, Irving, TX; Toyota Motor Sales USA Inc. at 1215 W. Crosby Rd., Unit 130, Carrollton, TX; Aeronet Inc. at 401 Southwestern Blvd., Coppell, TX; SKU2U Fulfillment Inc. at 14850 FAA Blvd., Suite 102, Fort Worth; J.S. Held LLC at 480 Wrangler Dr., Suite 300, Coppell, TX; Continental Datalabel Inc. at 9602 Dilworth Rd., Dallas; Favorite Brands LLC at 13755 Diplomat Dr., Farmers Branch, TX.

FORT WORTH—Holliday Fenoglio Fowler LP announces the sale of Riverbend West Distribution Center, a 301,500-square-foot class-A cross-dock industrial facility in Fort Worth. The HFF team marketed the property on behalf of the seller, Hunt Southwest Real Estate Development. Pure Industrial Real Estate Trust purchased the portfolio free and clear of existing debt. The HFF investment advisory team included managing director Adam Herrin and director Stephen Bailey.

GRAND PRAIRIE, TX—NexMetro Communities has acquired a 13-acre parcel located on the corner of Sara Jane Parkway and Forum Drive. The acquisition represents the third Avilla luxury leased home neighborhood in the Dallas area and the 15th neighborhood acquired by the innovative leased homebuilder in the Sunbelt.

HOUSTON—US Capital Investment Management LLC announces the successful exit of 19 real estate investments in Texas by the US Capital/Noble Capital Texas Real Estate Income Fund LP, formed earlier this year in partnership with Noble Capital Group. These 19 loan payoffs exclude in-kind payoffs. The investments were used to acquire, renovate and complete construction of residential properties in San Antonio, Burleson, Houston and other growth areas in Texas.

ROCKWALL, TX—Holliday Fenoglio Fowler LP facilitated the sale of Hilton Dallas/Rockwall Lakefront, a 231-room full-service hotel in The Harbor mixed-use waterfront destination on Lake Ray Hubbard in the Dallas-area community of Rockwall, TX. The HFF team marketed the property on behalf of the seller, TRC Capital Partners LLC. Driftwood Acquisitions & Development LP purchased the property unencumbered of the existing management contract. The HFF investment advisory team representing the seller included managing director John Bourret and director Austin Brooks.

Instant Insights /

Middle Market Digest: This Week in the South and Mountain Regions

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