DALLAS — HREC Investment Advisors has arranged $13 million in senior financing for the 228-room Doubletree Hotel – Dallas Market Center, located at 2015 Market Center Blvd. in downtown Dallas. The loan includes a 5-year term and a 7 percent fixed interest rate. The lender was a Texas-based bank. The Doubletree Hotel is owned by Market Center Lodging LP and operated by Alliance Hospitality Management.
Texas
CORPUS CHRISTI, TEXAS – Brookfield, Wis.-based Hammes Co. has been selected to manage and lease an approximately 500,000-square-foot healthcare portfolio for CHRISTUS Spohn Health System, which is part of CHRISTUS Health. The portfolio comprises 12 medical office buildings located in the Corpus Christi area. Hammes will manage the portfolio from its recently opened office in Corpus Christi. CHRISTUS Health currently controls more than 40 hospitals and medical facilities located in six states, as well as in Mexico.
AUSTIN, TEXAS — Santa Rosa, Calif.-based Summer Grove Properties LLC has acquired Summer Grove in Austin. Located at 7905 San Felipe Blvd., the property features 124 apartment units. The seller was Greenwood Village, Colo.-based Baron Properties LLC. Seattle-based Alliant Capital LLC facilitated the financing for the transaction. Ellen Muskin and George Deuillet III of Hendricks & Partners’ Austin office represented both parties in the sale.
SAN ANTONIO — Starwood Hotels & Resorts Worldwide is opening aloft San Antonio Airport Hotel, which is located at 838 NW Loop 410 in San Antonio. The 69,158-square-foot hotel offers 141 loft-inspired guest rooms with nine-foot ceilings. Additionally, the hotel features a lounge area, a bar, a fitness center, an outdoor pool, and a food and beverage area. Partners of the project include Aimbridge Hospitality, Hillwood Investments, Champ Hospitality LP and JF Capital Advisors.
SAN SABA, TEXAS — An East Texas entrepreneur has purchased an 80-bed nursing home in San Saba for an undisclosed price. The acquisition also includes a historic home located adjacent to the nursing home facility. Robyn Jackson of Sperry Van Ness’ Fort Worth, Texas, office represented both undisclosed parties in the transaction.
FORT WORTH, TEXAS — Nova Healthcare Management LLP has leased 6,000 square feet of retail space at Beach Street Business Park in Fort Worth. The property is located at 3645 N. Beach St. Holt Lunsford represented the tenant; Frank Jester and Robert Sawyer of NAI Huff Partners represented the landlord, Hiw Ltd., in the transaction.
AUSTIN, TEXAS — Hilton Hotels Corp. has chosen Austin as a future location for its freshly-unveiled Denizen Hotels brand. Other locations include Abu Dhabi, Buenos Aires, Cancun, Istanbul, Jerusalem, Los Cabos and Mumbai. The chain of hotels is being touted as a global lifestyle brand that is targeted toward corporate and leisure guests. Initial plans for the hotel chain, such as features or size specifications of the properties, are not being released.
DALLAS — Dallas-based Faulkner Design Group has completed design work on The Heights at Park Lane Place, the residential component of the 2.4 million-square-foot mixed-use project. The Heights encompasses three residential buildings, boasting more than 320 residences. Faulkner designed the lobbies, common areas and units in the buildings as well as two aqua lounges. The 33.5-acre Park Lane Place will feature more than 700,000 square feet of retail, restaurant and entertainment space.
DALLAS — Dallas-based Cypress Equities and SRS Real Estate Partners have banded together to create a managed services division, with the goal of assisting owners of underperforming assets. The new division will offer services including asset valuations and management, disposition counseling, construction management, tenant coordination and leasing management.
FAIRVIEW, TEXAS — Construction is set to begin for the new Fairview Town Hall for the city of Fairview. The project, consisting of a 24,000-square-foot facility, will be located on 5 acres within The Village at Fairview, one component of Dallas-based MGHerring Group’s mixed-use project located at U.S. Highway 75 and Stacy Road. The new town hall will house Fairview’s operations department, as well as the new police station. The current town hall, located at 500 S. Highway 5, will remain in use as a fire station and public works department. Construction will begin in May, with completion scheduled for spring 2010. The project is being designed by Garland, Texas-based Ron Hobbs Architects. In addition, MGHerring Group has donated a 1.4-acre land parcel within The Village Fairview for the construction of the new Collin County headquarters of the Circle Ten Council of the Boy Scouts of America. The two-story, 13,240-square-foot building will include a Scout Shop retail store, meeting rooms and office space. Completion of the project is scheduled for early 2010 and will coincide with the 100th anniversary of the Boy Scouts of America. The Village at Fairview is being developed concurrently with The Village at Allen by MGHerring …