ARLINGTON, PLANO AND SAN ANTONIO, TEXAS — Canyon Partners Real Estate, a commercial real estate investment firm, has completed three preferred equity investments in the fourth quarter of 2015. The deals totaled $29.4 million and will be used to develop apartment communities in Plano and San Antonio and a mixed-use student housing property in Arlington. The three investments closed included: An equity investment of $11.7 million in a joint venture with affiliates of Catalyst Urban Development and LandPlan to fund the construction of The Huntington, a 320-unit multifamily property in Plano. The site is less than a quarter-mile from Legacy Business Park, a 2,655-acre, Class A office development, which serves as the headquarters for many Fortune 500 companies; An equity investment of $7.6 million in a joint venture with affiliates of Catalyst Urban Development and LandPlan to fund the development of 101 Center, a mixed-use student housing community in Arlington. The project includes 244 units with high-end finishes and Class A amenities, 18,412 square feet of ground-floor retail with 90 parking spaces and a 600-space parking garage; A preferred equity investment of $10.1 million in a joint venture with an affiliate of the NRP Group to fund the development of …
MANCHESTER, N.H. — Elliot Hospital has selected Bedford, N.H.-based Eckman Construction for the renovation of its emergency department and the creation of a new Rapid Triage and Treatment (RTT) unit in Manchester. The project will include renovation to the check-in, waiting room, and clinical areas to create the new RTT treatment spaces. Boston-based MorrisSwitzer is providing architectural services for the project.
BEDFORD, MASS. — Integrated Builders has completed the exterior renovation of a 51,502-square-foot flex office building, located at 205 Burlington Road in Bedford, on behalf of Calare Properties. The renovation plan included enhancements to the existing façade through the demolition and reconstruction of two exterior canopies and renovation of the two current entryways. Additionally, Integrated replaced walkways, repainted doors and window frames and installed exterior insulation and finishing systems (EIFS) to provide an insulated, water-resistant, finished surface in an integrated composite material system. Architectural design firm ci design inc. provided architectural services for the project.
MANSFIELD, TEXAS — The Beck Group has begun construction on the Texas Health Residential Treatment Center in Mansfield. Beck will design and build the 75,000-square-foot, two-story building. The facility, the first of its type for the health system, will provide residential treatment for adolescents and adults in the Dallas/Fort Worth area and beyond who need professional help to resolve addictions. Clients will typically stay at the treatment center for about 30 days. During their stay, patients will be involved in daily routines that will mostly include group therapy and wellness-focused activities. When complete in early 2017, the project will include a fitness center, yoga studio, massage therapy, movie theater and dining area.
PHILADELPHIA — Colliers International Capital Markets has arranged $24 million of debt for the acquisition and redevelopment of a former West Philadelphia High School, located at 4700 Walnut St. in Philadelphia. The 442,000-square-foot building will be converted into a 298-unit multifamily property. The three-year adjustable loan is interest only at LIBOR plus 3.75 percent and was done as a Section 47 Historic Tax Credit transaction. Kristopher Wood and John Banas of Colliers arranged the loan for the undisclosed borrower.
DALLAS — Revere Capital has relocated its headquarters from Rowayton, Conn., to Dallas. Revere Capital originates and acquires senior mortgages, second mortgages, mezzanine and debtor-in-possession loans throughout the United States. Revere also underwrites investments in all commercial property asset types and corporate loans, heavy equipment, airplanes and art lending. Revere Capital has a staff of 17 and is located at 2000 McKinney Ave. Clark Briner founded Revere Capital following his work as an investment banker with Deutsche Bank in New York City and at Macfarlan Capital Partners, an institutional private equity real estate firm. He has served as an owner, lender, operator, sponsor and equity partner in commercial real estate.
STAFFORD, TEXAS — Crow Holdings Industrial (CHI) has broken ground on Stafford Grove Industrial Park, a 351,960-square-foot business park located at the corner of West Airport Boulevard and Murphy Road in Stafford. The Class A development will consist of three buildings: a 95,400-square-foot rear-load building, a 165,000-square-foot cross-dock building and a 91,560-square-foot front-load building. The project is expected to be complete in the third quarter of 2016. Amenities include an ESFR sprinkler system, 24- to 30-foot clear heights and trailer storage. This is CHI’s second development in Houston’s metropolitan area. Stream’s Justin Robinson, Matteson Hamilton and Dane Petersen will handle leasing and management of the property. Rosenberger Construction is the general contractor on the project.
DENISON, TEXAS — Mason Joseph Co., a San Antonio-based FHA multifamily lender, has secured an $18.7 million loan for the construction and permanent financing of The Residence at Gateway Village. The property is a proposed 180-unit apartment community in Denison. The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. The borrower secured a non-recourse loan that is fixed for the initial 16-month construction period and a subsequent 40-year term. Residence at Gateway Village is being built as part of a master-planned development, Gateway Village, on the west side of US Highway 75 at Grayson Drive. The apartment will be spread over eight three-story buildings. Sherman, Texas-based Covenant Development Partners, a privately held regional multifamily development and investment firm, is developing the project. Parkcrest Builders will serve as the project’s general contractor, and Residence Property Co. will serve as the management agent.
ARLINGTON, TEXAS — Americanstar Mattress LLC has entered the north Texas market, inking a 25,230-square-foot lease for showroom and distribution space in the Great Southwest Industrial District. The California-based company has leased as-is space at 1185 W. Corporate Drive in Arlington. Will Dillard of Dallas-based Bradford Commercial Real Estate Services represented the tenant, who also has a distribution center in Houston. Americanstar’s first location in the region is accessible to I-30 and TX 360. The rear-load structure has a 24-foot clear height and four loading docks. Bill Bexley of JSC Realty Investment Services Inc. represented Avenue J Partnership Ltd., landlord of the fully leased, 50,265-square-foot industrial building.
CHICAGO — Tucker Development and Acadia Realty Trust have acquired a portfolio of 10 buildings located on the 900 block of West Randolph Street in the Fulton Market District of Chicago. The duo plans to redevelop the space as a mixed-use area that will consist of 90,000 square feet of office and retail space. The site is located a block from the Morgan Station CTA stop, providing access to the Pink and Green lines. The project is slated for completion in the spring of 2017.