Integrated Real Estate Group is turning what was once the Plano Athletic Club at 4600 W. Park Blvd. into an independent living center. The site will become a five-story, 250-unit Watermere active adult facility. Community Impact reports nearby locations are in Frisco and McKinney. A similar project in Roanoke cost $81 million.
The facility will feature a mix of one- and two-bedroom units with about 30,000 square feet of amenities space. There will be a parking garage on the lower level and four floors of residential units on top. The building could be as tall as 65 feet. There will also be a 2,000-square-foot dog park.
The property is part of a 108-acre planned development district that encompasses most of the Preston Park Village shopping center.
The Integrated Real Estate Group portfolio currently includes both affordable and luxury multifamily communities and active, Assisted Living and Memory Care communities for seniors.
An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
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NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...
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Berkadia announced the sale of Orchard Corners & Suites, a 139-unit, 264-bed, garden-style student housing property serving The University of Kansas in Lawrence, Kansas. Berkadia’s Student Housing and Kansas City investment sales teams collaborated to facilitate the transaction on behalf of the seller, Utah-based Redstone Residential. The Berkadia team included Senior Managing Directors Travis Prince...
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