Multifamily

DESOTO, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged $4.6 million in joint venture equity financing for the construction of Wintergreen Manor Seniors Housing Complex in DeSoto. The project will include moderate-density, single-story structures with garages and carport. It will also feature an 8,000-square-foot amenity center that will include a 50-seat movie theater, an exercise room, an indoor spa, a beauty salon and massage room, a health center, a business center, a general store, a dining area with a kitchen, a game room, an arts and crafts room, and a great room with a fireplace and seating. The outside area will contain a pool, a picnic area with gas barbecue grills, waterscapes and irrigated landscaping. Todd McNeill of MCA arranged the financing on behalf of a single-asset entity controlled by Dallas-based Colonial Properties. Colonial and its equity partner have agreed to develop 30 senior housing projects throughout the Southwest.

SOUTHLAKE, TEXAS — Dallas-based Faulkner Design Group has completed the interior design for Watermere at Southlake, a senior housing community located in the Dallas suburb of Southlake. The project will feature 152 luxury condominiums and 85 villas. Condos will be available with one, two or three bedrooms, and will range from 1,000 to 2,000 square feet in size. Villas will contain two bedrooms, and will range in size from 2,000 to 3,000 square feet. Some villas will also include bonus rooms, studies, lofts and attached two-car garages. The community will also provide assisted living and memory care for residents. Amenities at Watermere at Southlake will include a 36,000-square-foot community center. It will contain restaurants, a bank, a movie theater, an indoor swimming pool, a health spa, a hair salon, a concierge, a convenience store, a library with wireless Internet access and card rooms. The project is being developed by Dallas-based South Bay Partners, with Bedford, Texas-based Galier.Tolson.French Design Associates serving as project architect. Integrated Real Estate Group is providing general contracting services.