This Week’s Houston Deal Sheet
An undisclosed buyer has purchased The Gardens at Spring Shadows, a 384-unit independent living community in the Spring Branch submarket.
The Gardens at Spring Shadows sits on 11.4 acres at 10100 Kempwood Drive. Units average 740 SF, and include open floor plans with available upgraded features, including plank flooring, new cabinetry, granite-look countertops, kitchen pantries, walk-in closets and in-unit washers and dryers.
JLL’s debt placement team worked on the new owner’s behalf to arrange a three-year, floating-rate loan with two one-year extension options through Ready Capital. The balance of the loan will be used for the rehabilitation of the property.
The buyer was represented by JLL’s debt placement team, led by Mark Brandenburg and Chad Russell. The undisclosed seller was represented by JLL’s Chris Young, Joey Rippel and Bailey Crowell.
Michael Feibus joined Chamberlain Hrdlicka as an associate in the commercial litigation practice. Feibus brings seven years of commercial and personal injury litigation experience to the firm. At Chamberlain Hrdlicka, Feibus’ practice will continue to focus on commercial litigation, business disputes and complex personal injury litigation.
Belvoir Real Estate Group purchased 7660 Woodway Drive, a 111K SF Class-B office building in the Memorial Villages neighborhood. The firm will improve the property with common-area renovations, improved amenities and upgraded construction elements. Belvoir’s Matthew Goldsby and Bradley Smith represented the company, while JLL’s Danny Miller and Marty Hogan led the team that represented the seller. In addition, JLL’s debt placement team, led by James Brolan and Michael Johnson, coordinated financing for the acquisition.
Arbor Contract Carpet Inc. leased 46K SF at 8728 West Little York Road in Northwest Houston. Transwestern’s Nick Peterson and John Ferruzzo provided advisory services to the tenant, while CBRE’s Faron Wiley represented the landlord, Clarion Partners.
THIS AND THAT
Houston-based Allied Orion Group has been selected to manage 1300 North Post Oak and North Post Oak Lofts, adding about 600 Class-A units to its Houston portfolio.
1300 North Post Oak is a luxury apartment community located off Interstate 10 and Loop 610 in the Galleria area. A variety of 14 floor plans are available, ranging from 560 SF to 1,210 SF.
The North Post Oak Lofts is located at 1255 North Post Oak. The community features 12 floor plan options, ranging from 640 SF to 1,490 SF.
Both properties are owned by The NHP Foundation.