DALLAS — McCarthy Building Cos. has been awarded a $23 million, design/build facilities project at the U.S. Department of Veterans Affairs (VA) Dallas Medical Center. The project is the company's first stand-alone, combined heat and power (CHP) cogeneration (COGEN) facility.The project will include a new electrical building and turbine shelter.
FORT WORTH — The UNT Health Science Center and Brookdale Senior Living have been awarded a $7.3 million Health Care Innovation award from the U.S. Department of Health and Human Services for a program to reduce hospital re-admissions of seniors housing residents. The Brookdale Senior Living Transitions of Care Program, a partnership between the UNT Health Science Center, Florida Atlantic University and Brookdale Senior Living, will begin in Brookdale's Texas and Florida facilities. The program could reduce hospital re-admissions by 11.2 percent and save Medicare $9.3 million.
NORTH RICHLAND HILLS — Dallas-based Realty Capital Management has brokered the sale of 13 acres in HomeTown, a mixed-use Traditional Neighborhood Development in North Richland Hills, to Dolce Living Hometown. Dolce plans to build a 315-unit multifamily community on the site.
AUSTIN — The Austin office of Berkadia Commercial Mortgage closed a total of $38.68 million in life company financing for office and multifamily properties in Texas. Matt Greer of Berkadia closed a $19.6 million, five-year acquisition loan through Principal Real Estate Investors for the 250-unit Marquis at Barton Creek in Austin. Andy Hill of Berkadia worked with Houston-based Hartman Income REIT to arrange $19.08 million in refinancing for a portfolio of office buildings located in Dallas and Houston.
FORT WORTH — The Laundry, a dry-clean drop-off station owned and operated by Fort Worth businesswoman Marilyn Bevan, has plans to open a 963-square-foot location at West 7th, a mixed-use development located at the southeast corner of University Drive and West 7th Street in Fort Worth. The facility will also house a tailoring shop that will be managed by Reata Alterations owner Brian Overstreet. Frank Bullock and Carey Shagets of SRS Real Estate Partners represented the landlord, Cypress Equities, in the lease transaction. Rodger Chieffalo of Chieffalo Realty represented the tenant.
HOUSTON — Hoar Construction has completed the $31.2 million, 78,000-square-foot University of Houston Science Teaching Lab building and is planning to add 12,000 square feet of research space to the facility. Hoar will complete the unfinished shell space on the fourth floor of the property. Each teaching lab of the facility includes six workstations, fume hoods, instrumentation benches, locked drawers for personal lab supplies, multi-media capabilities and a lounge on each floor. The construction is part of the Board of Regents' pursuit of Tier One status, which The Carnegie Foundation granted in January 2011. The pursuit included $240 million of construction projects to the university.
CORPUS CHRISTI — Wal-Mart Stores Inc. has awarded a contract to Satterfield & Pontikes Construction (S&P) to construct a $10.5 million, 139,000-square-foot Sam's Club store, located on South Padre Island Drive in Corpus Christi. Construction is under way and the project is slated for a spring 2013 completion. The construction includes the demolition of an existing Walmart store, asphalt paving and storm water requirements with erosion controls. Raymond Harris & Associates designed the facility. S&P has constructed more than 6 million square feet totaling more than $250 million on behalf of Wal-Mart Stores Inc.
CORPUS CHRISTI — Wal-Mart Stores Inc. has awarded a contract to Satterfield & Pontikes Construction (S&P) to construct a $10.5 million, 139,000-square-foot Sam's Club store, located on South Padre Island Drive in Corpus Christi. Construction is under way and the project is slated for a spring 2013 completion. The construction includes the demolition of an existing Walmart store, asphalt paving and storm water requirements with erosion controls. Raymond Harris & Associates designed the facility. S&P has constructed more than 6 million square feet totaling more than $250 million on behalf of Wal-Mart Stores Inc.
SAN ANTONIO — Transwestern has arranged the sale of the 360-unit Grove Park Apartments, located at 2566 Goliad Road in San Antonio's South Central submarket. The apartment community features two swimming pools, laundry facilities and open barbeque grilling areas. Jeff Rogers, Alan Grilliette and Chris Stutzman of Transwestern's San Antonio office represented the seller, Tritex Real Estate Advisors II, in the transaction. The buyer was Houston-based T-4 Housing Interests Management.
IRVING — Beech Street Capital has arranged a $26 million Fannie Mae Structured ARM loan to refinance the 504-unit Shadows of Cottonwood, a multifamily community located in Irving. The apartment community features three pools, a spa, outdoor grills, picnic area, business center, a clubroom and covered parking. Kristen Croxton and Greg Reed of Beech Street's Newport Beach, Calif., office arranged the loan on behalf of the borrower, Buchanan Street Partners. Croxton and Reed also secured a third party interest rate cap from Greystar Real Estate Partners.
