SOUTHLAKE, TEXAS— Lument has provided a $15.7 million bridge loan for the refinancing of a 91-bed seniors housing property in Southlake, a northern suburb of Fort Worth. The facility offers assisted living and memory care services. Doug Harper, Chris Mauger and Casey Moore of Lument originated the financing, which carried a 36-month term and a one-year extension option, on behalf of the borrower, California-based owner-operator Silverado.
HOUSTON — Suderman & Young Towing Co., which provides towing and other ship assistances to a variety of vessels, has signed a 6,000-square-foot office lease at East River, a 150-acre mixed-use development in Houston’s Historic Fifth Ward. Griff Bandy of Partners Real Estate represented the tenant, which will relocate its headquarters to East River, in the lease negotiations. Brandi McDonald Sikes and Sobi Qazi with SVN | J. Beard Real Estate — Greater Houston represented the landlord, locally based developer Midway.
HUMBLE, TEXAS — Avenue 360 Health & Wellness, a provider of both primary and specialty care services, will open a 5,773-square-foot clinic in Humble, a northern suburb of Houston. According to LoopNet Inc., the property at 18842 S. Memorial Drive was built in 1982 and renovated in 2011. Trey Martin of Partners Real Estate represented the tenant in the lease negotiations. Michael Martin of Avison Young represented the landlord, an entity doing business as Schmid-Moulton Parkway Ltd. An opening date was not disclosed.
HOUSTON — Ziegler has arranged $76 million in bond financing for Brazos Presbyterian Homes (BPH), a nonprofit seniors housing owner-operator based in Houston. The tax-exempt, draw-down bonds are supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark. BPH owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village. The bonds will fund an expansion project at Longhorn Village, refinance bonds from 2013 and pay the costs of issuance. The expansion project will add 48 independent living apartments to the community, as well as underground parking. Greenbrier Development is assisting with the development.
FORT WORTH, TEXAS — Samsung HVAC America, the Korean electronics giant’s North American heating and cooling products division, has signed a 132,000-square-foot industrial lease expansion at AllianceTexas in Fort Worth. The company, a longtime tenant at AllianceTexas, now occupies all 360,000 square feet of Alliance Gateway 55. Mark Becker, Jay Benner, Adam Cooke and Lou D’Avanzo of Cushman & Wakefield represented the tenant in the lease negotiations. Samuel Rhea and Reid Goetz internally represented the landlord, Hillwood.
HOUSTON — Lument has provided a $21.1 million bridge loan for the refinancing of Hermann Park, an 80-bed seniors housing property in Houston. The facility offers assisted living and memory care services. Doug Harper, Chris Mauger and Casey Moore of Lument originated the financing, which carried a 36-month term and a one-year extension option, on behalf of the borrower, California-based owner-operator Silverado.
SAN ANTONIO — Nordstrom Rack will open a 34,966-square-foot store at Northwoods Shopping Center in San Antonio. Owned by Los Angeles-based CIM Group, the 443,148-square-foot power center is located at the intersection of U.S. Highway 281 and Loop 1604 on the city’s north side. Other retailers at Northwoods Shopping Center include grocer H-E-B, Barnes & Noble, Marshall’s, Ulta Beauty and Old Navy. The opening of Nordstrom Rack is scheduled for September.
FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 5,400-square-foot industrial lease at Riverbend Business Park in Fort Worth. The property consists of 32 buildings totaling roughly 1.4 million square feet. William Wilson and George Jennings of Holt Lunsford represented the landlord, Riverbend Properties, in the lease negotiations. The representative of the tenant, Tarrant Appraisal District, was not disclosed.
PORT ARTHUR, TEXAS — Sempra Infrastructure Partners, a subsidiary of energy infrastructure firm Sempra (NYSE: SRE), has released plans for Phase I of Port Arthur LNG, a $13 billion natural gas liquefaction and export terminal in Port Arthur. Phase I of the project will include two liquefaction trains capable of producing up to 13.5 million metric tons per annum (MTPA) of liquefied natural gas (LNG); up to three LNG storage tanks; marine facilities, including two marine berths for LNG vessel berthing and loading; natural gas liquids and refrigerant storage; feed gas pre-treatment and truck loading areas; and combustion turbine generators for on-site generation of electrical power. A three-mile portion of State Highway 87 between the Intracoastal Waterway and Keith Lake Pass will also be relocated to accommodate the development of Phase I, which is located along the Sabine-Neches ship channel, offering direct access to the Gulf of Mexico. Sempra has closed a joint venture with an affiliate of ConocoPhillips for Phase I of the project, which has been approved by the Federal Energy Regulatory Commission (FERC). The firm has also agreed to sell an indirect, non-controlling interest in the development to an infrastructure fund managed by KKR, and has closed …
It’s little wonder that the fiber optic business is booming. American appetites for high-speed, high-volume Internet connectivity have skyrocketed in recent years, making fiber essential to provide Internet service across commercial property types. Employment for the linemen who build out and maintain those networks will grow 6 percent between 2021 and 2031, while telecommunications equipment installation jobs in general will expand to an even greater 8 percent, according to projections from the Bureau of Labor Statistics. Factor in the ongoing exodus of skilled workers from all trades as more of the nation’s Baby Boomers enter retirement, and many broadband providers may struggle to fill job openings in the coming years. That’s one of the reasons Pavlov Media, a Champaign, Ill.-based Internet service provider, is partnering with a Texas university to put students on career paths in fiber technology. Its partner in this endeavor, Prairie View A&M University, was founded in 1876 and is the second oldest public institution of higher education in Texas and one of the earliest 1890 Land Grant Institutions. Because it is a historically black institution, the program will be helping to address a longstanding need for greater diversity, equity and inclusiveness (DEI) in the technology sector. …