REBusinessOnline.com

October 19, 2012

JV BUYS ONE CITY CENTRE IN HOUSTON
One City Centre, a 609,000-square-foot, Class A office building located at 1021 Main St. in Houston's CBD. HOUSTON — A joint venture between Hallandale Beach, Fla.-based Beacon Investment Properties, Menorah Mivtachim and Psagot has acquired One City Centre, a 609,000-square-foot, Class A office building located at 1021 Main St. in Houston's CBD. Menorah Mivtachim and Psagot are two Israeli financial institutions. The joint venture purchased the 31-story office property from Behringer Harvard. One City Centre is currently 84 percent leased and was recently certified LEED Gold. Tenants include Waste Management and Energy XXI. Beacon also purchased a 560,000-square-foot office portfolio in Houston, Ashford 5, 6 & 7, last month.


SATTERFIELD & PONTIKES TO BUILD $13M INDUSTRIAL PROJECT
HOUSTON — Houston-based Standard Equipment Co. has selected Satterfield & Pontikes Construction to build four industrial properties totaling 185,000 square feet at its corporate headquarters complex in northwest Houston. Standard Equipment awarded Satterfield & Pontikes the $13 million project, which will include a 54,000-square-foot flex building and three crane-served industrial buildings.


BERKELEY POINT PROVIDES $40M LOAN FOR AMLI TOWNE SQUARE APTS.
AMLI Towne Square Apartments, located in Houston. HOUSTON — Berkeley Point Capital has provided a $40 million acquisition loan for the 380-unit AMLI Towne Square Apartments, located in Houston. The property will be renamed Standard on West Dallas. Ed Belz of Berkeley Point's Boston office arranged the seven-year loan through the Fannie Mae DUS lender program on behalf of the borrower, Baron Properties. The borrower plans to spend $4.4 million on capital improvements on the property.


NORTHMARQ ARRANGES $13.7M LOAN FOR ENCLAVE APTS.
Enclave Apartments, located at 2555 NE Loop 410 in San Antonio. SAN ANTONIO — NorthMarq Capital has secured $13.7 million in acquisition financing for the 384-unit Enclave Apartments, located at 2555 NE Loop 410 in San Antonio. Luke Donahue of NorthMarq's Phoenix office arranged the 10-year loan amortized over 30 years through Freddie Mac on behalf of the borrower, Enclave Communities.


KDH SECURES CONSTRUCTION FINANCING FOR OFFICE/WAREHOUSE
HOUSTON — Q10 Kinghorn, Driver, Hough & Co. (KDH) has arranged construction/permanent financing for a 117,184-square-foot office/warehouse, located at the northeast corner of Heathrow Forest Parkway and Aldine Bender in the Interwood Business Park in Houston. Larry Peters of KDH's Houston office arranged the loan through a middle market bank in Houston on behalf of the borrower, SUHM Spring Works.

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