SEATTLE — Seattle-based Leisure Care has taken over for the management contract for all five Conservatory Senior Living retirement communities in Texas. The portfolio include The Conservatory at Plano in Plano, The Conservatory at Keller Town Center in Keller, The Conservatory at Wells Branch in Austin, The Conservatory at Champion Forest in Spring and The Conservatory at Alden Bridge in The Woodlands.
DALLAS — HealthCap, a private equity firm specializing in healthcare, has merged with The Cirrus Group, a healthcare real estate development and investment firm. The merger will expand both firms' investment options to healthcare operators. The new merger will be based in Dallas.
HOUSTON — The Ziegler Cooper Architects and Fretz Construction Co. have teamed up in restoring three historic Houston landmarks, including 500 Fannin, a four-story office property. The 500 Fannin restoration includes a facade renovation as well as interior updates. The property is on track to achieve LEED Gold certification and will be the new home of Fretz Construction Co. upon completion. Ziegler Cooper and Fretz have also completed the new Georgia's Downtown Market, a grocery store, and renovated the historic rectory at Holy Rosary Catholic Church.
AMARILLO AND HOUSTON — Griffin-American Healthcare REIT II, co-sponsored by American Healthcare Investors and Griffin Capital Corp., has purchased two medical office buildings (MOBs) as part of $52.5 million portfolio acquisition of MOBs in Texas, California and Arizona. The 58,000-square-foot medical office building in Amarillo is fully leased to Amarillo Heart Group through May 2023. The 30,000-square-foot property in Houston is fully leased by Memorial Hermann Health System through 2019.
GRAND PRAIRIE — Marcus & Millichap has arranged the sale of the 42,148-square-foot Carrier Parkway Shopping Center, located at 1000 N. Carrier Pkwy. in Grand Prairie. The center is 83 percent leased to tenants such as Family Dollar, Ace Cash Express, Edward Jones and Little Caesars. Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, a private investor, in the transaction and procured the buyer, a private investor.
HOUSTON — Moody Rambin has secured two leases totaling 167,652 square feet of office space at the 188,113-square-foot Ashford 7 building, located at 900 Threadneedle St. in Houston. Sasol North America signed a lease renewal/expansion for 83,960 square feet, and Mustang Engineering leased 83,692 square feet. Robert Cromwell and Kevin Nolan of Moody Rambin represented the landlord, CFS Ashford VII, in both lease transactions. Mary Caldwell-Coughran of Caldwell Cos. represented Sasol North America.
ARLINGTON — The Connor Group has sold the 246-unit Legacy Point, a luxury apartment community located at 1901 NE Green Oaks Blvd. in Arlington. MREF Legacy was the buyer. The Connor Group purchased the apartment community in 2007 for $25.2 million.
FRISCO — A 120-room Holiday Inn, located at 3400 Parkwood Blvd. in Frisco, has been sold in an all-cash transaction. Chris Gomes of Marcus & Millichap's Dallas office and Allan Miller of the firm's San Antonio office represented the seller, United Central Bank of Dallas, in the transaction. Michael Yu and Rahul Bijlani of Marcus & Millichap's Houston office procured the buyer.
ROANOKE — Colliers International has arranged a 603,050-square-foot lease for a warehouse facility, located at 300 Gateway Pkwy. in Roanoke. Lynn Reich and Allen Gump of Colliers represented the tenant, DSC Logistics, in the lease transaction. Eric Rutledge of Cushman & Wakefield represented the landlord, 300 Gateway Parkway LP.
WAXAHACHIE — Mohrle-Morris & Associates has secured $3.5 million in first mortgage refinancing for the 150-unit Victorian Square Apartments, located at 1831 John Arden Dr. in Waxahachie. Mike Brandenberger of Mohrle-Morris arranged the 10-year loan with a 25-year amortization schedule through Southern Farm Bureau Life Insurance Co. on behalf of the borrower, Swiss/M Two LP.