Colliers Mortgage Arranges $38M Refinance for Luxury Senior Housing in Bryan

Corley Audorff, Troon Dowds and Josh Williams of Colliers Mortgage arranged a $38 million loan for the refinance of a 159-unit seniors housing community in Bryan, Texas to include independent living, assisted living and memory care units. The community is part of a larger 1,000-acre, master planned community, adjacent to a golf and country club, and near a bustling biotechnology corridor. The community has close ties with Texas A&M University, located only a few miles away.

The loan carries a three-year term on an interest only basis for the first two years and was arranged for an undisclosed borrower.

Midway’s East River Announces Houston Maritime Center will Open in Mixed-use Project’s 1st Phase

Houston-based Midway, the privately owned, fully integrated real estate investment and development firm, today announced Houston Maritime Center has leased a 6,281-square-foot space in the first phase of its East River mixed-use development.

Established in 2000, the Houston Maritime Center (HMC) is an extension of founder James “Jim” L. Manzolillo’s unique experiences, personality, and lifelong association with the ocean. As a naval architect, Manzolillo traveled extensively, collecting artifacts from around the world. He eventually decided to share them with the public, and Houston offered a logical place to do that. Hence, Manzolillo began channeling his resources to create a museum to engage people of all ages in the history of ships and sea exploration.

A 501(c)3 non-profit organization, HMC seeks to connect the community to one of Houston’s most valuable industries, offering a wide variety of exhibits that cover centuries of maritime history and the city’s impact on the maritime world. The Center also hosts a vast variety of virtual and in-person educational activities, modules, lectures, programs and events for all ages. Currently occupying an interim space at the confluence of Navigation and Canal streets in the East End, HMC will relocate to its new, larger space at East River in Spring 2023. Fittingly, their new space is in East River’s Trail Head 1 (Buidling F) office building, adjacent to the project’s bayou-side greenspace with stunning views of downtown Houston.

In total, East River Phase One will offer 300,000 square feet of office space designed to fit a wide variety of business needs alongside The Laura, a five-story, modern-industrial multifamily community of 360 apartment homes; and an additional 100,000 square feet of retail at the ground floor of the office buildings, garage, and bayou pavilions that will fuse commerce and culture with restaurant, hospitality, retail, medical, and entertainment forming spaces. Retail tenants confirmed for Phase One include Broham Fine Soul Food & Groceries, Lick Honest Ice Creams, El Condor Coffee Roaster, Tomi Jewelry, URBN Dental, and a new event venue and rooftop bar from the owners of The Astorian. Office tenants include Impact Networking, Method Architecture and TEAL. Construction is well underway on East River Phase One and is scheduled for completion in 2023.

Angler Construction Brings Tesla to Northwest Houston

Angler Construction (Angler), a general contractor based in Houston, Texas, has finished construction on the 90,000-square-foot Tesla Service Center in Northwest Houston. The design/build team completed renovations of the previous Gander Mountain retail store in six months. This is Angler and Tesla’s second project working together.

Angler partnered with Phelan – Bennett Development, a premier development company in The United States, to ensure exterior and interior renovations of the site were done under budget and ahead of schedule. The project team worked in unison from day one to provide a turn – key full electric vehicle service center, wash bay, parts storage, charging stations, new vehicle showroom, customer lounge, employee offices/training rooms, and much more.

The Tesla Service Center located at the intersection of Highway 290 and Highway 6 is one of three in the Houston area.

Developer: Justin Bennett and Dave Lawrence of Phelan – Bennett Development
Project Manager: Devin Valenta of Angler Construction
Assistant Project Manager: Alex Aitken of Angler Construction
Superintendent: Jim Jacobs of Angler Construction
Architect: Tramonte Design Studio
Structural Engineer: BNR Structural Company