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

What would July 4 be like if it was held on July 8? Probably not a huge difference. But, it may well have been that date, considering that the first public readings of the Declaration were held on July 8, 1776 in Philadelphia's Independence Square. One year later on July 4, 1777, Philadelphia marked Independence Day by adjourning Congress and celebrating with bonfires, bells and fireworks. That four-day difference stuck and today, Fourth of July rolls off the tongue easier than one might imagine Eighth of July. Many cities and municipalities have fireworks displays honoring that second July celebration and we take a break from the exciting commercial real estate world to appreciate our independence. Wherever the celebration takes you, have a happy and safe one!—Lisa Brown

NEWS AND NOTABLES

AUSTIN, TX—CBRE raised $60,000 at its annual Charity Golf Bash this year. The event is organized by the firm's Austin employees and supports six nonprofit organizations.

DALLAS—Younger Partners Property Services President Greg Grainger was named a 2017 BOMA Fellow. Grainger joins the latest class of BOMA Fellows, a group of selected individuals who have displayed exemplary and sustained contributions to commercial real estate, their profession, the community and BOMA at all levels, and have continually answered the call to leadership and service throughout their careers.

FORT WORTH—Real estate development and investment firm, Fort Capital, has hired Sarah LanCarte as its new managing director to lead and grow its commercial acquisitions and leasing team. With the hire of LanCarte, Fort Capital will expand its platform to acquire and manage industrial and commercial properties throughout Fort Worth and surrounding counties.

HOUSTON—Kirksey is proud to announce the addition of a new brand integration team that will support the firm's clients through signage and brand service needs, and further elevate Kirksey's design capabilities. Now offering branding services in-house, Kirksey has the ability to design everything from interior signage and wayfinding to exhibit and showroom displays. Led by Melissa Schmitz, a 22-year veteran in graphic design and environmental graphics, the team synchronizes environments, information, culture, products, services and people to become the connecting links for their spaces.

HOUSTON—Great Place to Work and Fortune have named Transwestern one of the “100 Best Workplaces for Millennials” for the second year. Transwestern, the only third-party full-service commercial real estate firm to be recognized, was ranked number 38.

DEAL TRACKER

ALBUQUERQUE—Marking the firm's foray into New Mexico, Gelt Inc., a Los Angeles-based real estate investment and asset management firm, has acquired Mountain Run Apartments, a 472-unit community. The seller was Chartwell Capital Partners.

BRYAN, TX—Mid Town Center, a 18,412-square-foot retail property located at 3800 South Texas Ave., has sold. Michael Buckner, first vice president investments, and Richard A. Mireles, senior associate, of Marcus & Millichap's Austin office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a private investor, was secured and represented by Gus Lagos, vice president investments, and Evan Altemus, associate, of Marcus & Millichap's Houston office.

CYPRESS, TX—KeyBank Real Estate Capital has provided a $33.2 million Fannie Mae first mortgage loan for North Haven Apartments. The 310-unit property was built in 2015. Trevor Ritter of Key's Commercial Mortgage Group arranged the adjustable-rate financing with a 10-year term, four-year interest only period and 30-year amortization schedule. The loan was used to refinance an existing construction loan.

HOUSTON—NAI Partners recently represented Heilman Holding Company in the sale of 6.85 acres at Highway 90 and Wallisville Road in Northeast Houston. Michael Keegan of NAI Partners represented seller Heilman Holding Company during the negotiations, while buyer Highmark International Trading FZE was represented by Bill Farris of Paradigm Commercial Real Estate.

HOUSTON—NAI Partners recently represented Clean Juice in two Houston-area retail leases: a 1,775-square-foot shop at Memorial Green (12505 Memorial Drive), and a 1,253-square-foot storefront at the Shoppes at San Felipe Center, located at the intersection of San Felipe Road and South Voss Road. Shaffer Braun and Jason Gaines of NAI Partners represented Clean Juice during the negotiation.

KATY, TX—NAI Partners recently arranged two industrial renewals at Westgreen Business Center: an 8,750-square-foot lease for Ignition-Systems, and an 11,250-square-foot lease for Ogburn Trucking. Westgreen Business Center is located on Vander Wilt Ln. Shaffer Braun of NAI Partners represented Westgreen Business Center LTD during both negotiations.

TERRELL, TX—CBRE Affordable Housing arranged the sale and financing of Meadowview Townhomes, a 76-unit affordable multifamily property to San Diego Apartments. CBRE's Tim Flint and Chris Deuillet of CBRE's Dallas office represented the seller in the transaction. Jim Flinn of CBRE affordable housing's debt and structured finance team secured $3.9 million in acquisition financing with a seven-year fixed rate loan provided by Freddie Mac.