REBusinessOnline.com

July 10, 2012

PHASE II OF MIDTOWN COMMONS IN AUSTIN BREAKS GROUND
Phase II of Midtown Commons, a Class A multifamily community located at the intersection of Lamar and Airport boulevards in Austin. AUSTIN — Trammell Crow Co., through its subsidiary High Street Residential and in partnership with USAA Real Estate Co., has commenced construction on Phase II of Midtown Commons, a Class A multifamily community located at the intersection of Lamar and Airport boulevards in Austin. The 246-unit Phase II will feature a 189,419-square-foot, four-story building and a 98,156-square-foot, five-story parking structure. Phase II will also include a resort-style pool, lounge area, bar, yoga room, business center, fitness center, game room and a dog park. Amegy Bank of Texas provided construction financing for the property, which is slated to deliver its first units in early 2013.


PRAEDIUM GROUP, INTERNACIONAL REALTY BUY APT. COMPLEX
The Residences at the Collection, a 312-unit multifamily property located in Carrollton. CARROLLTON — The Praedium Group and San Antonio-based Internacional Realty have acquired The Residences at the Collection, a 312-unit multifamily property located in Carrollton. The community features a resort-style pool with a sundeck, a spa, fitness center, business center, clubhouse, billiards room, game room and covered parking. The newly constructed complex was developed by Embrey Partners.


ARA BROKERS SALE OF BAY HOUSE IN HOUSTON
Bay House, located in Houston. HOUSTON — ARA has arranged the sale of the 190-unit Bay House, located in Houston. Cliff McDaniel, Russell Jones and Zach Springer represented the seller, New York-based Whitney Capital Co., in the transaction. Houston-based Midas Equity was the buyer.


M&M ARRANGES SALE OF ANDORA APTS.
Andora Apartments, located at 3302 Linda Drive in Dallas. DALLAS — Marcus & Millichap has brokered the sale of the 150-unit Andora Apartments, located at 3302 Linda Drive in Dallas. John Barker of Marcus & Millichap's Dallas office represented the seller and buyer, both local limited liability companies, in the transaction.


LMI SECURES $3.9M FINANCING FOR MULTIFAMILY PROPERTIES
HOUSTON — Houston-based LMI Capital has arranged $3.9 million to refinance four multifamily properties, located in Stephensville, Breckenridge, Eastland and Sweetwater. Jamie Mullin of LMI Capital arranged the five- and 10-year loans through a regional bank.

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