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

NEWS AND NOTABLES

DALLAS—Rosanne Meier joins the Biel Partners team and brings with her decades of professional experience.

DENVER—Bob Kaplan has been appointed to regional manager of the Marcus & Millichap Denver office.

DEAL TRACKER

ARLINGTON, TX—Eastern Union Funding arranged a $1.5 million loan with Southwest National Bank for the refinance of the Quality Inn at Arlington Highlands. The 128-room pet-friendly hotel is located at 121 East I-20, near AT&T Stadium and Six Flags Over Texas. A portion of the proceeds will be used for renovations. Eastern Union managing director Peter Blass acted on behalf of the borrower, RMG Hospitality.

AUSTIN, TX–TREK Investment Group announces the sale of Pond Springs office. Ethan Offenbecher represented the buyer in the acquisition of the 12,722 square foot multi-tenant office building located on SH 183/Research Blvd. on the highway frontage road. At the time of the sale, the building was 100% occupied with nine tenants and the loan was secured through the TREK affiliate network with a great non-recourse loan on the property.

AUSTIN, TX—Taurus Investment Holdings announced that pre-sales are underway in Whisper Valley, the largest zero-energy capable housing community in the nation. Located just east of SH-130 at FM 973 and Braker Lane in East Austin, the $2 billion sustainable community features homes from the low $200s to $300s by Austin builders Avi Homes and Pacesetter Homes.

BEAUMONT, TX—La Quinta Inn & Suites Beaumont West, a 65-room hospitality property has sold. The asset was listed for $6 million. Skyler Cooper, senior associate, Lisa Hankamer, senior associate, in Marcus & Millichap's Houston office, Chris Gomes, senior vice president investments, in Marcus & Millichap's Dallas office and Allan Miller, first vice president investments, in Marcus & Millichap's San Antonio office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. La Quinta Inn & Suites Beaumont West is located at 5820 Walden Rd.

CHERRY CREEK, CO—CBRE completed the sale of the 130,652-square-foot Citadel office building in Cherry Creek, a submarket of the Denver metro. Tim Richey, Mike Winn and Chad Flynn with CBRE Capital Markets Institutional Properties in Denver represented the seller, TR Citadel LLC. The buyer was Amstar of Denver. Brady O'Donnell, Jeff Halsey and Jill Haug of CBRE capital markets debt and structured finance arranged the financing.

CYPRESS, TX—Rosehill Plaza, a 14,740-square foot office property has sold. The asset was listed as $2.1 million. Evan Altemus, associate, and Gus Lagos, vice president investments, in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Nate Newman, senior associate, and Logan Kelly, associate, in Marcus & Millichap's The Woodlands office. Rosehill Plaza is located at 17510 Huffmeister Rd.

GREENWOOD VILLAGE, CO—JLL's Capital Markets experts announced the firm secured $66 million for the refinancing of Fiddler's Green Center I & II. The loan was secured on behalf of The John Madden Company, the builder two class-A office buildings. The loan structure was a 10-year term, 4.625% fixed interest rate and a 30-year amortization from Bellco Credit Union. Managing director Baxter Fain led the JLL team on the financing along with Christina Grimme.

HOUSTON—NAI Partners recently represented Churchill Drilling Tools in the purchase of a 20,943-square-foot crane-served manufacturing property at 1366 E. Richey Rd. Jake Wikinson of NAI Partners represented Churchill Drilling Tools during the negotiations, while seller Turnkey Building and Design was represented by Clint Hankia with Northwinds Commercial.

HOUSTON—Transwestern announced Zoës Kitchen, a fast-casual Mediterranean restaurant group, has retained the firm as its exclusive real estate advisor in the Houston market. Currently, Zoës Kitchen has 15 Houston locations and has plans to more than double its footprint in the Houston market during the next few years.

JACINTO CITY, TX—NAI Partners recently represented industrial tenant PK Industrial LLC in a 91,000-square-foot lease renewal at 4800 Fidelity. Chris Caudill of NAI Partners represented PK Industrial during the negotiations, while landlord McCorvey Real Estate Holdings was represented by Eric Hughes of Centermark Commercial Real Estate.

LEAGUE CITY, TX—NAI Partners recently represented Foremark Performance Chemicals in acquiring office space for its Houston-based headquarters at 2450 South Shore Blvd. Lane Morgan of NAI Partners represented Foremark in the transaction and Dena Wren of CBRE represented the landlord (American National Insurance Co.).

LONGVIEW, TX–TREK Investment Group announces the sale of a Dairy Queen. Parker Carroll represented the seller in the disposition of the property which featured an absolute NNN lease with 16.5 years remaining on the primary term and rent increases throughout the primary lease as well as each option period.

ROYSE CITY, TX –TREK Investment Group announces the sale of a Jack in the Box. Parker Carroll represented both the buyer in the acquisition, as well as the seller in the disposition of the property which featured an absolute NNN lease with corporate guarantee and a scheduled rent increase in 2018.

SUNRAY, TX–TREK Investment Group announces the sale of a Family Dollar store. Parker Carroll represented the seller in the disposition of the property which featured a corporate lease guarantee with six years remaining on the primary term, and rent increases throughout each of the six five-year option periods.