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S&P FINISHES $16.5M RENOVATION OF JOHNSON SPACE CENTER
Building 12 at the NASA Johnson Space Center in Houston.
HOUSTON — Satterfield & Pontikes Construction has completed a $16.5 million renovation of the 65,000-square-foot Building 12 at the NASA Johnson Space Center, located in Houston. The property was upgraded to achieve LEED Gold certification with features like lighting controls, wind turbines, high-effeciency plumbing fixtures and a 32,000-square-foot garden roof that houses more than 67,000 plants. Building 12 provides office space for human resources, finance, administration and onsite training functions.
IPA BROKERS SALE OF THE PALOMINO
The Palomino, a Class A, 484-unit multifamily complex located in San Antonio.
SAN ANTONIO — Institutional Property Advisors (IPA) has arranged the sale of The Palomino, a Class A, 484-unit multifamily complex located at 14111 Vance Jackson Road in San Antonio. Will Balthrope, Scott Lamontagne and Drew Kile of IPA represented the seller, Koontz McCombs Development, in the transaction. Balthrope and Lamontagne also secured the buyer, an investment group represented by Beverly Hills, Calif.-based Francis Property Management Inc. The property is currently 95 percent occupied.
SBV COMMUNITIES BUYS BEAR CREEK APTS.
EULESS — SBV Communities has purchased the 211-unit Bear Creek Apartments, located at 605 Del Paso St. in Euless. Auction.com facilitated the transaction, which is the second purchase this week for SBV. The firm's ownership footprint is now spread over 14 markets.
ARA SECURES SALE OF SUMMERCREEK APTS.
Summercreek Apartments, located at 11851 Belair Drive in San Antonio.
SAN ANTONIO — ARA has brokered the sale of the 180-unit Summercreek Apartments, located at 11851 Belair Drive in San Antonio. The apartment is currently 93 percent occupied and features two swimming pools with a waterfall, a fitness center, sports court, playground and a barbecue area. Casey Fry of ARA's San Antonio office represented the seller, New Jersey-based Wilshire Enterprises, in the transaction. Santa Ana, Calif.-based SGI Partners is the buyer, and Summercreek is the company's first Texas property.
HFF ARRANGES EQUITY, LOAN FOR INDUSTRIAL PORTFOLIO
Tech Ridge, a 1,000-acre business park in Austin.
AUSTIN — HFF has secured joint venture financing between Live Oak-Gottesman LLC and KFG Investment Co. for a 204,000-square-foot industrial portfolio, located near the section of Interstate 35 and West Howard Lane within Tech Ridge, a 1,000-acre business park in Austin. The portfolio consists of three Class A industrial properties 94 percent leased to six tenants including NCS Pearson, Ultra Clean Technology, Dynamic Manufacturing, Anixter and Finisar Corp. Randy Baird, Jud Clements and Robby Rieke of HFF arranged the equity through Principal Real Estate Investors on behalf of the borrowers, Live Oak-Gottesman and KFG Investment Co. Additionally, Mona Carlton of HFF arranged debt financing for one of the properties.