NEWS AND NOTABLES
HOUSTON—Carolyn Wolff Dorros has been appointed executive vice president of Wolff Companies with responsibilities for the oversight and management of the company's operations, marketing and community and public relations.
HOUSTON—Ryan Searle has been promoted from associate to director of Lee & Associates-Houston. Searle joined the Houston office of Lee & Associates in 2015 and has been involved in a wide array of transactions, with a special emphasis on industrial and land properties in the greater Houston area. In the past three years, Searle has completed more than 75 transactions worth in excess of $80 million.
DEAL TRACKER
OKLAHOMA CITY—CBRE capital markets' debt and structured finance team has secured $66 million in construction financing for the development of West Village, a mixed-use project consisting of 345 market-rate units. The loan for the class-A mid-rise apartment project is funded through the US Department of Housing and Urban Development's Section 220 new construction mortgage insurance program, providing an interest-only construction period of 26 months with a 40-year, non-recourse and fully amortizing permanent loan at 3.6%. Chris Dunning of CBRE's Oklahoma City office and Chad Ricks of CBRE's Dallas office originated the loan through CBRE's FHA lending platform on behalf of the sponsor, Oklahoma City-based MAZ I LLC and Hall Capital.
HUMBLE, TX—NAI Partners represented the landlord, Shomer IV LTD in renewing H&R Block's lease consisting of 1,120 square feet located 3211A FM 1960 East. Jason Gaines and Hannah Kaplan of NAI Partners represented the landlord, Shomer VI LTD, while Nick Fiquette with Cushman & Wakefield represented the tenant, H&R Block.
HOUSTON—NAI Partners represented Manning Family Partnership in leasing a 24,000-square-foot crane served warehouse facility located 8777 Tallyho, Building 3. Chris Caudill and Joel Michael of NAI Partners represented the landlord, Manning Family Partnership in the lease negotiations, while Snehal Patel, United Realty Advisors represented the tenant, Auctions Unlimited.
HOUSTON—NAI Partners represented Quality Reel Solutions in leasing a 10,800-square-foot distribution/wholesale facility located at 4555 Airline Dr. Quality Reel Solutions is a manufacturer and wholesale provider of nailed wood reels, plywood reels and custom manufactured industrial lumber for packaging and shipping. Jake Wilkinson of NAI Partners represented the tenant, Quality Reel Solutions, during lease negotiations, while Darryl Noon with Transwestern represented the landlord, St. Paul Fire & Marine Insurance.
DENVER—Holliday Fenoglio Fowler LP arranged $93.5 million in acquisition financing for 1125 17th St., a 492,799-square-foot class-A office tower in Denver's central business district. HFF worked on behalf of the Merchant Banking Division of Goldman, Sachs & Co. and Pearlmark to secure the four-year, floating-rate loan through Bank of America. Loan proceeds were used to fund the acquisition of the property. 1125 17th Street occupies an entire city block on the corner of 17th and Lawrence Streets at the convergence of Denver's central business district and Lower Downtown. The 25-story tower is 85.2% leased to JP Morgan Chase & Co. and Halliburton.
DALLAS—Virtua Partners has successfully recapitalized Midtown Atrium, a 113,359-square-foot office complex. Virtua assisted the tenant-in-common investors with an extension of the current senior loan, and the investment of $2,000,000 in preferred equity. The new capital is being used to fund tenant improvements, leasing commissions, and property upgrades.
FORT WORTH—The Atelier Building is one of the oldest buildings in downtown. Built in 1905, the Atelier Building has housed several different businesses during its 112-year history, including several architect firms, banks and even a restaurant at one time. Located on 8th Street between Houston and Throckmorton, the Atelier Building was renovated in 1980 when architect Cameron Alread purchased the building. The building housed Alread's architect firm for 36 years, until he sold the building to the law firm of Barnett Howard & Williams PLLC. During the last six months, the law firm completely renovated the building from floor to ceiling.
HOUSTON—NAI Partners represented the landlord, Shomer III LTD in leasing 1,240 square feet to Dandy Liquor located at 3040 FM 1960. Jason Gaines and Hannah Kaplan of NAI Partners represented the landlord, Shomer III LTD, while Sam Cherian with Prompt Realty represented the tenant, Dandy Liquor.
HOUSTON—NAI Partners represented Post Oak Energy Capital LP with the acquisition of a 27,396-square-foot office building in the Riverway Submarket located at 34 South Wynden Dr. Griff Bandy and Kelly Torian with NAI Partners represented the buyer, Post Oak Energy Capital, LL in negotiating this acquisition, while Alex Taghi of NAI Partners and Trey Strake of Cushman & Wakefield represented the seller, Alvand Properties LLC.
AUSTIN, TX—Zyme Solutions signed a 2,695-square-foot lease at 804 Rio Grande St. AQUILA Commercial represented the tenant and ECR represented the tenant in the transaction.
BUILDING BLOCKS
LONGMONT, CO—Scheduled to open in early summer 2017, La Madeleine is currently under construction and completing vertical improvements at Village at the Peaks, along one of the most traveled intersections in Longmont, Ken Pratt Boulevard and Hover Street.
NEWS AND NOTABLES
HOUSTON—Carolyn Wolff Dorros has been appointed executive vice president of Wolff Companies with responsibilities for the oversight and management of the company's operations, marketing and community and public relations.
HOUSTON—Ryan Searle has been promoted from associate to director of Lee & Associates-Houston. Searle joined the Houston office of Lee & Associates in 2015 and has been involved in a wide array of transactions, with a special emphasis on industrial and land properties in the greater Houston area. In the past three years, Searle has completed more than 75 transactions worth in excess of $80 million.
DEAL TRACKER
OKLAHOMA CITY—CBRE capital markets' debt and structured finance team has secured $66 million in construction financing for the development of West Village, a mixed-use project consisting of 345 market-rate units. The loan for the class-A mid-rise apartment project is funded through the US Department of Housing and Urban Development's Section 220 new construction mortgage insurance program, providing an interest-only construction period of 26 months with a 40-year, non-recourse and fully amortizing permanent loan at 3.6%. Chris Dunning of CBRE's Oklahoma City office and Chad Ricks of CBRE's Dallas office originated the loan through CBRE's FHA lending platform on behalf of the sponsor, Oklahoma City-based MAZ I LLC and Hall Capital.
HUMBLE, TX—NAI Partners represented the landlord, Shomer IV LTD in renewing H&R Block's lease consisting of 1,120 square feet located 3211A FM 1960 East. Jason Gaines and Hannah Kaplan of NAI Partners represented the landlord, Shomer VI LTD, while Nick Fiquette with Cushman & Wakefield represented the tenant, H&R Block.
HOUSTON—NAI Partners represented Manning Family Partnership in leasing a 24,000-square-foot crane served warehouse facility located 8777 Tallyho, Building 3. Chris Caudill and Joel Michael of NAI Partners represented the landlord, Manning Family Partnership in the lease negotiations, while Snehal Patel, United Realty Advisors represented the tenant, Auctions Unlimited.
HOUSTON—NAI Partners represented Quality Reel Solutions in leasing a 10,800-square-foot distribution/wholesale facility located at 4555 Airline Dr. Quality Reel Solutions is a manufacturer and wholesale provider of nailed wood reels, plywood reels and custom manufactured industrial lumber for packaging and shipping. Jake Wilkinson of NAI Partners represented the tenant, Quality Reel Solutions, during lease negotiations, while Darryl Noon with Transwestern represented the landlord, St. Paul Fire & Marine Insurance.
DENVER—Holliday Fenoglio Fowler LP arranged $93.5 million in acquisition financing for 1125 17th St., a 492,799-square-foot class-A office tower in Denver's central business district. HFF worked on behalf of the Merchant Banking Division of
DALLAS—Virtua Partners has successfully recapitalized Midtown Atrium, a 113,359-square-foot office complex. Virtua assisted the tenant-in-common investors with an extension of the current senior loan, and the investment of $2,000,000 in preferred equity. The new capital is being used to fund tenant improvements, leasing commissions, and property upgrades.
FORT WORTH—The Atelier Building is one of the oldest buildings in downtown. Built in 1905, the Atelier Building has housed several different businesses during its 112-year history, including several architect firms, banks and even a restaurant at one time. Located on 8th Street between Houston and Throckmorton, the Atelier Building was renovated in 1980 when architect Cameron Alread purchased the building. The building housed Alread's architect firm for 36 years, until he sold the building to the law firm of Barnett Howard & Williams PLLC. During the last six months, the law firm completely renovated the building from floor to ceiling.
HOUSTON—NAI Partners represented the landlord, Shomer III LTD in leasing 1,240 square feet to Dandy Liquor located at 3040 FM 1960. Jason Gaines and Hannah Kaplan of NAI Partners represented the landlord, Shomer III LTD, while Sam Cherian with Prompt Realty represented the tenant, Dandy Liquor.
HOUSTON—NAI Partners represented Post Oak Energy Capital LP with the acquisition of a 27,396-square-foot office building in the Riverway Submarket located at 34 South Wynden Dr. Griff Bandy and Kelly Torian with NAI Partners represented the buyer, Post Oak Energy Capital, LL in negotiating this acquisition, while Alex Taghi of NAI Partners and Trey Strake of Cushman & Wakefield represented the seller, Alvand Properties LLC.
AUSTIN, TX—Zyme Solutions signed a 2,695-square-foot lease at 804 Rio Grande St. AQUILA Commercial represented the tenant and ECR represented the tenant in the transaction.
BUILDING BLOCKS
LONGMONT, CO—Scheduled to open in early summer 2017, La Madeleine is currently under construction and completing vertical improvements at Village at the Peaks, along one of the most traveled intersections in Longmont, Ken Pratt Boulevard and Hover Street.
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