SOUTHLAKE, TEXAS — Forest Park Medical Center Southlake, an approximately 142,000-square-foot hospital in Southlake, will open its doors May 29 and begin serving patients on June 10. The hospital will include 54 private inpatient rooms, including 10 VIP suites. The hospital will also include 12 fully integrated operating suites. The hospital will be part of the physician-owned and operated Forest Park Medical Center system.
Property Type
COLLEYVILLE, TEXAS — Silver Oak Commercial Realty has arranged the sale of an 8,000-square-foot medical office building, located at 5408 Colleyville Blvd. in Colleyville. LeAnn Brown of Silver Oak represented the seller, HRT Properties of Texas, in the transaction.
LONE TREE, COLO. – A new 467,000-square foot Charles Schwab campus has broken ground in Lone Tree. The $200-million campus will be situated on more than 40 acres in the RidgeGate community just southeast of Denver. It will allow the brokerage and banking company to consolidate three of its Denver service center facilities. The campus will contain a two-story retail branch building, two additional five-story office buildings and a 15,000-square-foot employee dining facility. It is striving for LEED-Gold certification. The project is scheduled for completion in the third quarter of 2014. It will be built by Mortenson Construction and designed by Fentress Architects.
BRIGHTON, COLO. – The 78-bed Platte Valley Medical Center in Brighton has received a $92.9-million loan modification. The not-for-profit acute care hospital is located at 1600 Prairie Center Parkway. The hospital recently relocated to a new 50-acre campus that features nearly 300,000 square feet of space spread throughout three buildings. The loan carries a fixed interest rate of 2.98 percent for its remaining 19-year term. It was arranged for Brighton Community Hospital Association by Andleeb Dawood of Dougherty Mortgage’s Montana office through HUD’s Section 242 loan insurance program.
CAMPBELL, CALIF. — A mixed-use apartment development in Campbell has received a $45.2-million construction loan. The community will be located at 1677 South Bascom Ave. just southwest of San Jose. It will contain 168 residential units and 15,000 square feet of retail space. Financing was based on a three-year, interest-only term. It was arranged by John Kerslake of NorthMarq Capital’s San Francisco regional office through the firm’s relationship with a regional bank.
PORTLAND, ORE. — Grant Park Village, a $60-million, mixed-use development in Portland, is scheduled to begin construction June 1. The new development will contain 211 units in five separate buildings. A 34,500-square-foot New Seasons Market will occupy ground-floor space. An additional 13,000 square feet of storefront retail space will also be developed. The site is located on NE Broadway. Grant Park is being developed by Capstone Partners LLC and PCCP, LLC. It will be built by Walsh Construction and designed by LRS Architects and Runberg Architecture Group.
GOODYEAR, ARIZ. – The 226-unit Broadstone Canyon Trails in Goodyear has sold to HSL Acquisitions, LLC for $23.6 million. The community is located at 16450 W. Van Buren Street. It was originally developed by Alliance Residential in 2008. The seller was Broadstone Canyon Trails, LLC. The transaction was executed by David Fogler and Steven Nicoluzakis of Cassidy Turley Arizona’s Multi-Family Group.
LOS ANGELES — Tryperion Partners, LLC recently closed its first fund, Tryperion RE Fund I, L.P., with $50 million of fully discretionary committed capital. The fund plans to pursue value-add acquisition and recapitalization opportunities. It will focus on existing assets in secondary markets throughout the West and Southwest that are positioned for economic growth. The fund plans to invest in and implement aggressive asset management strategies on office, retail, hospitality and multifamily properties. It is looking to acquire income-producing properties at a discount to both replacement cost and intrinsic value. Tryperion’s equity investments will be between $5 million and $15 million. Tryperion Partners was founded by Joseph Kessel, Eliot Bencuya and Jeffrey Karsh, former professionals at Canyon Capital Realty Advisors.
SCOTTSDALE, ARIZ. — Heckmann Corp. has signed a 10-year lease for 20,162 square feet at the Pinnacle in Kierland I in Scottsdale. The space is located at 14624 N. Scottsdale Road. The lease will commence in the third quarter of 2013. Heckmann Corp. was represented by CBRE’s Chuck Nixon. The landlord, Scottsdale Kierland Property LLC, was represented by Jim Watkins, Craig Coppola and Andrew Cheney of Lee & Associates.
BATON ROUGE, LA. — Lightstone Value Plus Real Estate Investment Trust Inc., a non-traded REIT sponsored by The Lightstone Group, has acquired two Marriott-branded hotels in Baton Rouge for $15.6 million. The properties include the 121-room Courtyard by Marriott and the 108-room Residence Inn by Marriott. The hotels are adjacent to I-10, which connects Baton Rouge to New Orleans, and are situated minutes from major businesses, including 65 petrochemical facilities and the newly constructed Women's Hospital of Baton Rouge. The Courtyard by Marriott underwent a $3.1 million renovation in 2010 that included an upgrade of the guestrooms and corridors. Lightstone plans to fully renovate the Residence Inn by Marriott property, including replacing soft goods and upgrading the guestrooms, meeting rooms and lobby areas.