FORT WORTH, TEXAS — Caddis Partners LLC has begun construction on Eagle Mountain, a 96-bed Heartis-branded assisted living and memory care community located at Dalhart Drive and Boat Club Road in Fort Worth. The community spans 61,125 square feet, and will include 54 assisted living units with 61 beds, and a 35-bed memory care unit. Caddis Partners will act as developer and owner of Heartis Eagle Mountain. Good Neighbor Care will provide management. Architectural firm Katus and the Dallas office of MAPP Construction will lead development. Financing was provided by American National Bank of Texas. Caddis plans to invest more than $100 million in senior housing projects during the next two years. Heartis Eagle Mountain is set for a summer 2014 completion.
AUSTIN, TEXAS — CBRE’s Austin office has brokered the sale of 717 Parmer, a Class A office property in Austin, to Gladstone Commercial Co. The Virginia-based REIT purchased the 320,000-square-foot office property for an undisclosed price. The four-story complex sits on 23 acres of land, and offers parking, three volleyball courts and raised flooring. General Motors fully leases 717 Parmer.
CORPUS CHRISTI, TEXAS — McShane Construction Co. has received a construction award from developer Continental Properties Co. Inc. for the Springs at Corpus Christi, a 284-unit multifamily complex. The community is located at 5702 Timbergate Drive and consists of 13 two-story apartment buildings. The development will feature units with attached garages together with four detached garages and five carport areas. The complex will offer studio, two- and three-bedroom units with ground level private entries. Amenities include a gated entry, community clubhouse with on-site property management, a resort-style swimming pool and outdoor entertainment areas. The clubhouse will include a complementary coffee bar, 24-hour fitness center with yoga and Pilates areas and a fenced, leash-free dog park. BSB Designs is providing comprehensive architectural services for the development. The Springs is scheduled for completion in September 2014.
DALLAS — CBRE has brokered the sale of Thanksgiving Tower, a 50-story office building comprising 1.4 million square feet in Dallas, to a partnership led by Woods Capital Management LLC. John Alvarado, Gary Carr and Eric Mackey of CBRE arranged the transaction on behalf of the seller, Berkadia. The tower is located at Elm and North Ervay streets in Dallas’ revitalized central business district. The building held a 55 percent occupancy rate at the time of sale. The property is anchored by Gardere Wynne Sewell LLP and serves as the headquarters of Petro-Hunt. It is also home to the Tower Club Dallas and XTO Energy, Inc.
IRVING, TEXAS — Lee & Associates has secured the sale of a 43,400-square-foot industrial building at 1420 W. Walnut Hill Lane in Irving. Nathan Denton of Lee & Associates represented the seller, Felder Property Group, in the transaction with the buyer, Glasswerks.
DALLAS — HFF has arranged a $7.75 million refinancing for Park Creek Manor, a 322-unit multifamily community located near the northwest corner of West Illinois Avenue and South Westmoreland Avenue in Dallas. HFF worked on behalf of AmeriSouth Realty to secure a seven-year, fixed-rate loan through Southwest Securities FSB. The property is 99 percent leased and offers a mix of one-, two- and three-bedroom units as well as a swimming pool. John Brownlee led the HFF team representing the borrower.
FORT WORTH, TEXAS — Tandy Leather has opened a new 23,000-square-foot flagship retail store located along the I-20 Freeway in Fort Worth. The new store is the first stand alone retail property for Tandy. Bob Moore Construction acted as contractor, and Alliance Architects served as architect for the property. The retail facility features a fully glass front and tilt-up construction. This building will act as the prototype for future Tandy properties.
AUSTIN, TEXAS — Shorenstein Properties LLC has entered into a new venture to capitalize the development of two office buildings located within The Domain, a 304-acre mixed-use community in northwest Austin. The venture was completed with Deutsche Asset and Wealth Management and its developer, Endeavor Real Estate Group. The two buildings, Domain 2 and Domain 7, are five and six stories and total 139,675 and 221,886 square feet, respectively. Domain 2, which will break ground later this month, has preleased 100 percent of the office space to HomeAway Inc. Domain 7 will break ground later this summer.
AUSTIN, TEXAS — Muskin Commercial LLC has arranged the sale of Vista Lago, a 102-unit multifamily complex in the Lakeshore District of Austin. A local partnership purchased the property. The complex will undergo extensive renovations and a full reopening. The property was traded at an undisclosed price, but was listed for $5.6 million. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, The Cornerbrook Cos. Brannin Prideaux and Ben Joyce of IBC Bank provided financing. Roscoe Properties will manage the property.
AUSTIN, TEXAS — Transwestern has brokered the sale of Northview Business Center on behalf of UNUM Life Insurance of America to TriGate Capital. Northview Business Center is a 262,067-square-foot, multi-tenant office building located at 9001 Interstate 35 in northeast Austin. Hale Umstattd, Leah Gallagher and Luke Wheeler of Transwestern represented the seller, Portland, Maine-based UNUM Life Insurance. The property was 70 percent leased at the time of sale.