Real estate transactions: Advanced Energy Partners, Westlake Dermatology, HCA Healthcare ink deals

Austin-based Westlake Dermatology has leased the second floor of The Platform Investment Group’s new 2132 Bissonnet building in the Boulevard Oaks neighborhood for its entry into Houston. The plastic surgery and dermatology group, which has nine locations in Greater Austin, has leased 6,700 square feet of the 11,500 square-foot mixed-use building.

Designed by Michael Hsu Office of Architecture, the building is home to Tropicales restaurant on the first floor, where 2,325 square feet remains to be leased. It will house The Platform Group’s offices on the third floor this fall. The Platform Group’s Steve and Hilary Ybarra represented the landlord in the transaction. Liz Tucker with Liz Tucker Commercial and JLL represented the tenant.

Three Pillars Capital Group, a Houston multifamily real estate investment firm specializing in acquisitions, asset management and property management, has acquired Pine Lake Village Apartments. The 96-unit, Class B community at 1325 Greens Parkway sits on 3.5 acres just north of Beltway 8. Amenities include a swimming pool, dog park, playground and covered parking. Plans have not been finalized, but the buyer expects to spend about $1 million to renovate the property, which has rents that are 20 to 25 percent below market. The seller was Pine Lake Village LLC, owned by Andrew Cushman. Josh Welch, founder of Three Pillars Capital Group, handled the sale.

HCA Healthcare has purchased 24 MedSpring urgent care centers in Texas from Fresenius Medical Care. The centers, including area locations in Heights, Katy, Kingwood, Memorial, Midtown, River Oaks and Sugar Land and others in Austin and Dallas, will be rebranded to CareNow Urgent Care later this year.

GenCap Partners of Dallas has acquired a 17-acre parcel at 17810 West Lake Houston Parkway in Humble as the site of a 350-unit apartment complex named The Sarah at Lake Houston. JHP Architects designed the three-story complex, which will offer one- two- and three-bedroom options, including some townhome units, ranging from 560 square feet to 1,616 square feet. Chris Bergmann Jr. of JLL represented GenCap in the purchase. Anne Vickery & Associates represented the seller. Oden Hughes Taylor Construction is the general contractor, SJL provided interior design services, and Amegy Bank is providing construction financing. Completion is planned in the second quarter of 2020.

Fluid Flow Products has leased 26,520 square feet of office warehouse space in Sterling Industrial Park, at 186 White Road, south of Beltway 8 near Almeda Road. The deal represents an expansion of its manufacturing, distribution and office hub in south Houston. Jason Tangen, Jon Lindenberger and Paul Dominique of Colliers International represented hte landlord, Dominant Development. The park has more than 65 acres of developmental land and build-to-suit opportunities. Rob Neblett of R.K. Neblett Interests and Kent Willis of Colliers International represented Fluid Flow Products.

Apara Autism Center, which provides individualized therapy services for children who are diagnosed with autism and other developmental conditions, has leased a 6,408-square-foot office in a new medical office building at 6914 Brisbane Court in Sugar Land. Maury Bronstein and John S. Wall Jr. of 1912 Ventures represented the tenant. Stephen Soussan of Greenberg & Co. represented the landlord, Zenzed.

Square Mile Capital Management has originated a $46 million loan to refinance 1885 St. James Place office building in the Galleria submarket. The financing was provided to Houston-based Mission Cos., which developed the 165,000-square-foot building in 2016. John Ream of JLL arranged the loan, which was used to refinance the property and fund leasing costs. Mission Cos. manages 1.0 million square feet of office and medical office space in the Houston area.

Spring Branch Investment Group has purchased a 57,796-square-foot office property at 11302 Tanner Road in northwest Houston. Sam Chang and Shawn Ackerman with Henry S. Miller Brokerage — Houston represented the seller, Milan-Tanner LP. Jason Du, also with Henry S. Miller, represented the buyer.

Houston-based Target Hospitality Corp. has acquired a 168-room community in Midland from ProPetro Holding Corp. The deal expands its presence in the Permian Basin to 19 communities.

Advance Energy Partners has leased 9,116 square feet of office space at 11490 Westheimer. NAI Partners’ Dan Boyles represented the tenant. Moody Rambin’s Terri Torregrossa and Kurt Kistler represented the landlord, Hertz Westchase Park Plaza LLC.

Tahnit Asim has leased 4,200 square feet of office space at 6862 S. Texas 6. Kat Morrison and Wil Logan represented the landlord, Hartman Income REIT.

MIAT College of Technology has leased 56,400 square feet of industrial lease at 533 Northpark Central Drive. Chris Kugle and John Ferruzzo of NAI Partners represented the tenant. Jason Dillie of Cushman & Wakefield represented the landlord, Prologis.

katherine.feser@chron.com

twitter.com/kfeser

Source Article