Real estate transactions: Hyatt House coming to Metropark Square mixed-use development

Austin-based Aspen Heights and partner Safanad, a global investment firm with offices in New York, London and Dubai, have refinanced a construction loan for the Aspen Houston student housing project near the University of Houston and two other properties near Iowa State University and Coastal Carolina University in South Carolina. Doug Opalka, Casey Wenzel and Michael Johnson of HFF arranged a three-year, floating-rate loan through a large institutional lender. Built in 2017, Aspen Houston consists of 717 beds in two four-story buildings at 4971 Martin Luther King Blvd. The building is on the Metro rail line, across the street from MacGregor Park.

Tremont Mortgage Trust provided a $28 million first mortgage bridge loan to refinance 1711 Caroline Apartments in Midtown. Built in 2015, the 220-unit midrise is a property of Dallas-based Leon Capital Group.

Dallas-based Sam Moon Group has arranged financing for the development of a 5-story, 148-room Hyatt House extended-stay hotel at its 70-acre Metropark Square mixed-use project in Shenandoah. The senior lender is Veritex Community Bank and Bedrock Group raised EB-5 funds. VCC is the contractor, and Type Six is the architect for the hotel, which is slated to open in November 2020. Metropark Square, on Interstate 45 south of Texas 242, recently opened a 10-screen AMC movie theater and a Dave & Buster’s is under construction. The development is planned for apartments, restaurants and other retail surrounding a central green space with a pavilion for events.

Houston-based Finial Group has teamed up with Dallas-based TriGate Capital to acquire the Westwood Business Park, a 12-building development totaling 227,709 square feet near Interstate 635 and Interstate 35 in Dallas. Finial Group will provide both leasing and property management. Finial Group and TriGate are seeking additional acquisition opportunities in Texas.

EPSP Holdings has purchased 3.8 acres at Beltway 8, west of Texas 288. Tom Condon Jr. of Colliers International represented the seller, LMC Marine Center. Daniel Egger of Provista Realty Group represented the buyer.

Sico Hoelscher Harris has leased 3,342 square feet at 3 Riverway from Unilev. Alex Taghi of NAI Partners represented the tenant.

Texas to Wharf Marine Solutions has leased 9,576 square feet of industrial space at 811 Success Court, Suite 300, Stafford. Mike Gornek and Peyton Easley with ICO Commercial represented the landlord, 3 Holks Ltd.

A building occupied by Advance Auto Parts at 909 Telephone Road near the East End has changed hands. Rin Willis of Belvoir Real Estate Group represented the seller, C6 Holdings, a real estate investment company. Lewis Property Co. represented the investor.

Factory Direct Liquidation has leased 5,500 square feet at 9820 North Freeway. Maher Moukarim of Capital Heights Properties represented the tenant. Denise Ksiazek of Cypressbrook Co. represented the landlord, 9820 North Freeway LLC.

2001 Properties LLC has purchased a 3,000-square-foot office building at 1321 Antoine. Jane Nodskov and Lang Motes with ICO Commercial represented the buyer.

katherine.feser@chron.com

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