REBusinessOnline.com

August 02, 2012

RICHLAND COS. BUYS BAY PLAZA OFFICE COMPLEX
Bay Plaza Office Complex, located at 711 W. Bay Area Blvd. in Houston. HOUSTON — The Richland Companies has acquired the 104,091-square-foot Bay Plaza Office Complex, located at 711 W. Bay Area Blvd. in Houston. The six-story office property consists of glass-backed elevators, balconies on each floor, a conference facility, card-key access and manicured landscaping. The Richland Companies will assume the property's on-site management. The property is 89 percent to tenants such as British Petroleum (BP), San Jacinto College, Blue Moon Detective Agency, Hometrust Mortgage, Broadpoint, Texan Bank, Evergreen Tank Solution, MeCor and Select Medical.


HFF SECURES $58.7M LOAN FOR FORUM AT OLYMPIA PARKWAY
SELMA — HFF has arranged a $58.7 million loan for a 510,092-square-foot portion of The Forum at Olympia Parkway, a 1.2 million-square-foot power retail center located at the intersection of Interstate 35 and Loop 1604 in Selma. Tenants of the property include Bed Bath & Beyond, Ross Dress for Less, Best Buy, PetSmart, Office Max, Old Navy, T.J. Maxx and Toys "R" Us. Greg LaBine, Andy Scott and Campbell Roche of HFF arranged the loan through Northwestern Mutual on behalf of the borrower, AVR Realty Co.


M&M BROKERS SALE OF BUFFALO TERRACE
Buffalo Terrace, an apartment complex located near Montrose Boulevard and Allen Parkway in Houston. HOUSTON — Marcus & Millichap has arranged the sale of Buffalo Terrace, an apartment complex located near Montrose Boulevard and Allen Parkway in Houston. Sheri Carey of Marcus & Millichap's Houston office represented both the seller and buyer, both limited liability companies, in the transaction.


TRANSWESTERN ARRANGES SALE OF TANNER PLACE APTS.
Tanner Place, an apartment community located at 3327 Willow Creek Drive in Irving. IRVING — Transwestern has brokered the sale of the 130-unit Tanner Place, an apartment community located at 3327 Willow Creek Drive in Irving. The complex includes eight two-story garden-style buildings. Mark Freeman, Taylor Snoddy and Philip Wiegand of Transwestern's Dallas office represented the seller, a special servicer client, in the transaction. HDC Agave Hill Country Equities was the buyer.


STREAM REALTY SECURES OFFICE LEASE RENEWAL
The Tower at Cityplace, a 1.22 million-square-foot office complex located at 2711 N. Haskell Ave. in Dallas. DALLAS — Stream Realty Partners has arranged Hudson Advisors/Lone Star's 110,652-square-foot lease renewal at The Tower at Cityplace, a 1.22 million-square-foot office complex located at 2711 N. Haskell Ave. in Dallas. Jeff Schweitzer, Sarah Erickson and Tommy Nelson of Stream Realty Partners represented the landlord, Barrow Street Capital, in the lease transaction. Dan Paterson of Swearingen Realty Group represented the tenant. The Tower at Cityplace is currently 85.7 percent leased and features a conference center, Larry North Fitness, food court, cafeteria and DART rail access.

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