The development group behind the massive $380 million redevelopment in downtown Dallas — called The Drever — at 1401 Elm St. has landed a nearly $67 million bridge loan, as expected, from a big capital group on the East Coast.

Real estate sources told the Dallas Business Journal a development group led by longtime developer Maxwell Drever had a loan keyed up to help financially after a lender claims the group defaulted on a $55 million loan. That lender, GCP Income Opportunities I LLC, appointed a new trustee readying the project for the Dec. 5 foreclosure auction.

Click to read more at Dallas Business Journal. 

An affiliate of New York City-based GFI Capital Resources Group Inc. has acquired a recently-built apartment community at Craig Ranch, a 2,200-acre, master-planned community in McKinney.

Terms of the deal were undisclosed. The 277-unit community, Venue Craig Ranch, at 4651 S. Custer Road in McKinney sits within State Highway 121 near Legacy Business Park. At the time, the community was 87-percent occupied.

Click to read more at Dallas Business Journal. 

Construction on a new hybrid hotel-apartment concept is underway in Richardson, which will help lead to a much larger expansion in major metros throughout the United States.

The concept, called WaterWalk, is a vision of entrepreneur Jack DeBoer and is already underway in Las Colinas near Dallas Fort Worth International Airport, with two additional locations in San Antonio, which open by the end of spring 2018.

In the next eight months, WaterWalk officials plan on beginning construction on seven new development sites throughout the United States.

Click to read more at Dallas Business Journal. 

North Texas’ rising home prices have helped lead the senior housing investment and developing division of Chicago-based CA Ventures — CA Senior Living LLC — to acquire three properties with hundreds of homes geared for senior residents from a Dallas-based developer.

Terms of the acquisition were undisclosed. An affiliate of the division has purchased the following communities from Dallas’ SRP Medical:

Click to read more at Dallas Business Journal. 

Trinity Private Equity Group, a Southlake-based investment firm, acquired a North Dallas office building in the city’s Park Central neighborhood from New York-based Red River Asset Management after a substantial renovation.

Terms of the acquisition were undisclosed. In 2013, Red River Asset Management acquired Hidden Grove, a four-story, 232,389-square-foot office building at 12404 Park Central with a parking garage, for more than $15 million.

The building had gone largely unnoticed by large institutional investors because the building, once the headquarters for Steak and Ale in 1987, had a little “hair,” on it because of its large floorplates and need for upgrades, said Red River’s Bruce Stern shortly after the acquisition.

Click to read more at Dallas Business Journal. 

Global brokerage firm CBRE Group Inc. (NYSE: CBG) has named a Dallas executive Sean Goff as the leader of the Americas local project management business, putting him into a national and international leadership role.

Goff, who most recently led CBRE’s project management business in Texas, Oklahoma and five countries in Latin America, will expand his role to include North America and Canada. With his new role, he will continue to be based in Dallas.

Click to read more at Houston Business Journal.