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STAFFORD, TEXAS — CB Richard Ellis’ Dallas Capital Markets Debt & Equity Finance team has secured $100 million in financing for The Fountains on the Lake retail center located at Southwest Freeway and Fountain Lake Drive in Stafford. The 589,201-square-foot property’s tenants include Off Fifth Avenue- Saks Fifth Avenue Outlet, Borders, Bed Bath & Beyond, Office Max, Stein Mart and Sports Authority. Randy Fleisher and Jason Piering of CB Richard Ellis’ Dallas Capital Markets Debt & Equity Financing structured the joint venture equity and acquisition financing on behalf of Dunhill Partners.
SAN MARCOS, TEXAS — Hapes Properties, a subsidiary of California-based Kotel Investments, has finalized the purchase of an industrial building located at 1942 Interstate Highway 35 in San Marcos. The Interstate Business Park, which is a one story, 122,000-square-foot building, is built on 8.2 acres. Austin, Texas-based Southwest-Hawaii Partners was the seller. Lynn Taylor of Republic of Texas Real Estate represented the buyer, and Butch and Rhonda West of West Commercial represented the seller in the transaction.
HOUSTON — Kirksey, a Houston-based architecture and design firm, has announced that Life Science Plaza, a healthcare facility located at 2130 W. Holcombe Blvd. in Houston, will officially top out Tuesday, Jan. 22, 2008. The seven-story building includes a parking garage, medical offices and a long-term acute care hospital. A public park is also in development for the west side of the project. The project is planned for LEED gold certification.
DALLAS — Ascension Group Architects, an Arlington, Texas-based design firm, has been awarded the design contract for Forest Park Medical Center to be located at the northeast corner of Central Expressway and Forest Lane in North Dallas. The 66,100-square-foot, two-story hospital project is estimated to cost $36.4 million. A multi-specialty group of local physicians is developing the hospital, and Physician Synergy Group will be the operation manager. Construction is set to begin later this month on the project, which is scheduled for completion in 2009.