The Week in Deals
Metropolitan Capital Advisors senior director Sunny Sajnani arranged an $11M permanent acquisition loans on two retail properties, II Creeks Plaza (in Richardson) and Sunrise Plaza (in Brownsville). MCA arranged both transactions for Retail Endeavors Group.
Altschuler and Co promoted Mike Dement to VP. Mike has been with the company for more than two years.
Richmond Collinsworth joined Bradford Commercial Real Estate Services as VP in the office division. He was most recently a VP at TIG.
MCA promoted Gabe Gonzalez to senior director. He joined the firm in 2011.
Campbell Henry joined Spire’s brokerage division as director. He was formerly VP of CNL Commercial Real Estate’s office leasing and brokerage services teams.
Todd Rodenberg joined Red Capital Group as chief credit officer. He will also serve as chief underwriter for FNMA transactions. Prior to joining Red, Todd served as managing member and consultant for Bene Immobili.
Retail Properties of America entered into an agreement to acquire six multi-tenant retail assets through the dissolution of its MS Inland JV, which owns the portfolio on an 80/20 basis. The company will acquire its partner’s 80% ownership interest in the six properties (which includes Lincoln Plaza in Dallas.) The properties have a $293M value. The company will also assume the JV’s $142M in-place mortgage financing. The 1.2M SF portfolio and was 95.5% leased.
Venture Commercial’s John Zikos and Chris Booras sold a 60k SF former Albertsons building at 989 N Walnut Creek Dr in Mansfield. The duo repped the seller, Dallas Retail Associates. Lincoln Property Co’s Randall Stepp and Clear Fork Properties’ Nick Ibarra represented the buyer, Walnut Creek Plaza. In a separate transaction, the duo, along with Venture’s Christopher Gibbons, represented Albertsons in the sale of a five-acre tract at the southwest corner of SH 26 and Rufe Snow Drive in Richland Hills to Walmart. The property will be developed for a Walmart Neighborhood Market. The Tom Hudson Co’s Tom Hudson represented Walmart Real Estate Business Trust.
Henry S. Miller Brokerage’s Grant Brodeur and John St. Clair brokered the sale of approximately 138 acres at the northeast quadrant of Preston Road and FM 120 in Grayson County. Grayson 138 purchased the land from an undisclosed seller. Grayson 138 plans to improve the property, which is in the anticipated future Dallas North Tollway corridor, and hold for future development.