Adolfson & Peterson Construction and Acadia Healthcare Break Ground on Rio Vista Behavioral Health Expansion in El Paso

Adolfson & Peterson Construction (AP), a top national construction management firm and general contractor, and Acadia Healthcare Company Inc., a leading provider of behavioral healthcare services across the U.S., have broken ground on a new addition to Rio Vista Behavioral Health Hospital in El Paso, Texas.

Located at 1390 Northwestern Drive, the project will provide Rio Vista Behavioral Health with a new two-story, 40-bed unit and outdoor recreation space encompassing 38,000-SF, and a new one-story outpatient center with additional parking and flatwork encompassing 14,000-SF.

“We’re pleased to break ground on a project that will help Rio Vista build on the significant impact it’s made on the community.” said Bob Lemke, vice president of operations with AP Gulf States. “Mental illness and addiction rates have risen with population increases in major cities across Texas, causing a dire need for more access points for care. AP has a long and reputable history of managing health care projects across Texas, and we’re humbled to partner with Acadia and Rio Vista to expand the breadth of psychiatric and addiction treatment services to the people of El Paso.”

Rio Vista Behavioral Health is El Paso’s premier mental health hospital, offering comprehensive care for men, women, and children struggling with mental health and substance abuse concerns. The state-of-the-art facility provides inpatient services tailored to each patients’ individual needs on their path to recovery.

Recently, the treatment facility launched remote services to continue serving patients throughout the pandemic and opened a 20-bed S.T.A.R. Military and Veteran’s Unit to provide customized treatment programs tailored to the needs of active-duty service members, veterans and first responders.

Stengel Hill Architects designed the new addition. Construction on the expansion project will begin in January 2022 and is expected to be completed in the spring of 2023.

Sidecar CRE’s Jim Breitenfeld and Kelland Drumgoole Represent Sloan Capital, Bringing everbowl™ Brand to Texas

everbowl™ – Sidecar CRE’s Jim Breitenfeld and Kelland Drumgoole represent Sloan Capital, which is bringing the everbowl™ brand to Texas. Three initial locations have been leased and more are planned for 2022.

a. The Crescent – 200 Crescent Ct., Ste. 60 – Dallas – everbowl™ opened their first Texas location in September 2021. Thomas Glendenning of Shop Co’s represented the Landlord.

b. Flower Mound Towne Crossing – 2704 Cross Timbers Road, Ste. 117, Flower Mound – The lease for this location was finalized in November 2021 and everbowl™ will open at the center in early 2022. Giovanni Scardino of Weitzman represented the Landlord.

c. The Shops of Highland Park – 4242 Oaklawn Avenue – Dallas – The lease for this location was finalized in November 2021 and everbowl ™ will open at the center in mid-2022. Alex Johnson with Stockdale Investment Group, LLC represented the Landlord.

Marcus & Millichap Capital Closes More than $160 Million in Financing for Six Shopping Centers

Marcus & Millichap Capital Corporation closed more than $160 million in financing for six shopping centers across the United States that comprise more than 1.4 million square feet. Five of the shopping centers were located either in the Midwest or Texas.

Todd McNeill and Sunny Sajnani, senior managing directors in Capital Markets at MMCC’s Dallas Uptown office, arranged the financing for the six shopping centers by working with various financial institutions to provide the funding, including JP Morgan, Morgan Stanley, Goldman Sachs and Happy State Bank.

“Grocery-anchored centers are essential. That’s been proven even before the pandemic and well after,” said Nick Hodge, chief executive officer of Essential Growth Acquisition Properties. Hodge was the former head of corporate real estate for Kroger Cos. and started Essential with a focus of acquired high performing grocery anchored centers across the country.

Transactions details

Newport Pavilion – Located in Newport, Kentucky, the 336,900-square-foot shopping center has more than 35 retailers, including popular national retailers Target, TJ Maxx, Dick’s Sporting Goods, Ulta, PetSmart and Chick-fil-A. The site was acquired by Dallas-based Rainier Companies, a leading commercial real estate investment firm. This property received a 10-year fixed-rate loan with a 3 percent interest rate.

Wolflin Village –The 159,485-square-foot retail center anchored by Office Depot, Sprint, Edward Jones, and Talbot’s is located in located in Amarillo, Texas. Morris Capital Partners owns the property. This retail center received a 10-year fixed-rate loan with a 3.9 percent interest rate.

Midlothian Towne Crossing – The 53-acre development is located in Midlothian, Texas, and is anchored by brands such as a 123,000-square-foot Kroger, Ross, Burke’s Outlet, Jo-Ann’s and Ulta. The property is owned by Weber & Co., a private development firm. This development received a 10-year fixed-rate loan with a 3.5 percent interest rate.

Epic West Towne Crossing – Located in Grand Prairie, Texas, the 276,817-square-foot shopping center is shadow anchored by IKEA and anchored by, Burlington, Michaels and Petco. The site is owned by Weber & Co, a private development firm. This brick-and-mortar site received a 10-year fixed-rate loan with a 3.25 percent interest rate.

Shoppes of Mason – Located in Mason, Ohio, the 81,000-square-foot shopping center anchored by Kroger, UPS, T-Mobile and Avis. The shopping center was acquired by Essential Growth Acquisition Properties, a Cincinnati-based investment firm focused on grocery anchored shopping centers. This property received a 10-year fixed-rate loan with a 3.8 percent interest rate.

Lake Drive Plaza – Located in Vinton, Virginia, this center is comprised of a 163,000-square-foot shopping center anchored by Kroger, GNC, H&R Block and Tractor Supply. The shopping center was acquired by Essential Growth Acquisition Properties, a Cincinnati-based investment firm focused on grocery anchored shopping centers. This property received a 10-year fixed-rate loan with a 3.25 percent interest rate.

Marcus & Millichap Capital Corporation Enters Strategic Alliance with M&T Realty Capital Corporation

CALABASAS, Calif. Oct 8, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that its financing subsidiary, Marcus & Millichap Capital Corporation (MMCC) has entered into a strategic alliance with M&T Realty Capital Corporation (M&T Realty Capital). The strategic alliance will enable MMCC to provide clients with increased access to M&T Realty Capital’s affordable and conventional multifamily agency financing through a highly streamlined process with dedicated resources. M&T Realty Capital is a Fannie Mae DUS lender and an approved Freddie Mac multifamily lender for Freddie Mac’s Conventional and Targeted Affordable Housing loans.

As part of MMCC’s ongoing expansion, the alliance includes a preferred stock investment in M&T Realty Capital and the ability for MMCC to indemnify M&T Realty Capital for 50% of the credit risk losses for certain loans originated by MMCC through M&T Realty Capital’s Fannie Mae DUS platform. The strategic alliance will enable MMCC originators to access M&T Realty Capital’s streamlined underwriting and efficient transaction execution in this critical capital markets segment. Under the agreement, MMCC originators will continue to have the ability to clear the market on behalf of each client. Additionally, they will have access to M&T Realty Capital’s dedicated tools, resources, and expansive lending capacity, which are expected to significantly grow agency market share for MMCC’s sourcing business and M&T Realty Capital’s loan origination business.

In January 2021, MMCC named Evan Denner as Executive Vice President and Head of Business. Denner was instrumental in co-designing the partnership with Michael Berman, President and CEO of M&T Realty Capital, along with Beekman Advisors, who advised MMCC on the alliance. To further build MMCC’s ability to expand its clients’ access to agency financing, Paul Lewis, who spent nearly 20 years at Fannie Mae, joined in January. Lewis is a Senior Vice President and Director of Agency Programs.

Hessam Nadji, President and CEO of Marcus & Millichap stated: “MMCC is well positioned to work seamlessly with M&T Realty Capital to expand agency financing for our multifamily clients with better tools and resources for our originators. Marcus & Millichap is the leader in multifamily brokerage and will better integrate agency financing with our client value proposition. The investment in this strategic alliance and willingness to indemnify M&T RCC for credit risk losses is driven by the agencies’ historically strong multifamily loan performance and very low losses, coupled with significant upside in growing our internal financing capture rate and M&T’s unique ability to enhance our client services.”

MMCC closed $2.73 billion of multifamily financing in the first half of 2021 and with this alliance will become M&T Realty Capital’s largest origination partner by loan volume. Marcus & Millichap and its Institutional Property Advisors (IPA) division closed $12.97 billion of multifamily sales in the first half of 2021. “Marcus & Millichap and IPA have a stellar reputation in the industry and specifically in the multifamily real estate segment,” stated Berman. “We are proud to have Marcus & Millichap Capital Corporation as our strategic alliance partner. The synergies across our brands will enable us to provide substantial opportunities for clients.”

The alliance will allow both firms to provide clients with the most competitive capital markets solutions secured by multifamily properties throughout the United States. MMCC originators will work directly with M&T Realty Capital’s origination and credit teams creating an efficient, transparent, and ultra-competitive process for clients. Lewis and M&T Realty Capital’s Mark Gould will co-manage the venture.

“Marcus & Millichap Capital Corporation is firmly committed to this partnership,” said Denner. “We are a market leader providing multifamily capital markets solutions and this alliance provides us with another tool to continue to best serve our clients.”

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit www.MarcusMillichap.com.

Manhattan Construction Company Named Accredited Quality Contractor by ABC, Achieving Elite Status in Safety, Education and Culture

TULSA, OKLAHOMA – Manhattan Construction Company, a top-performing national construction services firm, today announced that it has been named an Accredited Quality Contractor (AQC) by Associated Builders and Contractors, the 18th year it has earned the credential for its commitment to corporate responsibility. Only 229 of the nation’s elite merit shop construction contractors earned the credential in 2020.

“As a fifth-generation, family-owned company, there is an authentic care and concern for those who work for and with Manhattan,” said Manhattan Construction Company President John Reyhan. “Our AQC designation is a meaningful affirmation of our wide-ranging quality, safety, education, health, and wellness programs that nourish the lasting success of our client relationships, team members, project partners, and trade partners.” ABC’s AQC program provides recognition to world-class construction firms that have documented their commitment in five areas:

• Quality
• Safety performance
• Talent management
• Craft and management education
• Community relations, inclusion, diversity, and equity

“Accredited Quality Contractors are the types of companies I want to work for and do business with because of the priority placed on world-class safety, culture, workforce development, innovation, diversity and quality,” said 2021 ABC National Chair of the Board of Directors Steve Klessig, vice
president of architecture and engineering, Keller Inc., Kaukauna, Wisconsin. “Congratulations to the leadership and employees of Manhattan Construction Company for your daily commitment to corporate and community service; you exemplify the merit shop philosophy and what’s best about ABC membership.”

In earning the AQC credential, each member company commits to world-class safety by achieving Gold, Platinum or Diamond level in ABC’s STEP Safety Management System. Founded more than three decades ago, STEP dramatically improves safety performance among construction industry participants, with top performers achieving incident rates more than eight times safer than the U.S. Bureau of Labor Statistics industry average. AQC members also take the following pledge:

As an Accredited Quality Contractor, our company is committed to providing our clients with the highest quality construction services, and we care deeply about our employees and the communities in which we build. We are proud to be part of the construction industry and are dedicated to the principles of free enterprise. We commit ourselves to serve our communities and provide our employees with the skills they need to work safely and productively in order to meet the needs of our clients. AQC is recognized by Construction Users Roundtable, an organization founded by leading construction project owners.

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About ABC
Associated Builders and Contractors is a national construction industry trade association established in 1950 that represents more than 21,000 members. Founded on the merit shop philosophy, ABC and its 69 chapters help members develop people, win work and deliver that work safely, ethically and profitably for the betterment of the communities in which ABC and its members work. Visit us at abc.org.

About Manhattan Construction Company
Founded in 1896, Manhattan Construction Company is a fifth-generation family-owned company that provides preconstruction, construction management, program management, general building, and design-build services throughout the United States, Mexico, Central America, and the Caribbean. Manhattan’s portfolio of work includes mission-critical, sports, healthcare, government, education, laboratory, science & technology, aviation, transportation, industrial, convention, casino, and hospitality
facilities. Manhattan is an 18-time Associated Builders and Contractors (ABC) Accredited Quality Contractor (AQC), an ABC 2019, 2020, and 2021 Top Performing Contractor, a nine-time STEP Diamond Safety Award Winner, and a 2017 and 2021 National Safety Pinnacle Award winner. www.manhattanconstruction.com

Here Are Your 2021 REDnews Awards Winners

Nearly 300 commercial real estate professionals gathered at the Briar Club ballroom last Thursday, August 5 to celebrate this past year’s biggest deals and the movers and shakers behind them during the REDnews Awards. And there was certainly much cause for celebration after the hardships and challenges presented during 2020 and beyond. However, the CRE industry has proven resilient and we would like to honor those who continue to set a high bar for excellence in the field.

Dozens of entries vied for the 29 different award categories and after much deliberation, the individuals and companies listed below earned their spot on the list of winners. We would like to thank all the nominees and award winners who made this year’s REDnews Awards a big success and we invite all to stay in touch with our team through LinkedIn and Twitter. And Until next year’s awards take place, please be sure to keep an eye on the various panel events and mixers scheduled throughout the rest of the year.

REJournals CFO Todd Phillips

Below is the complete list of the 2021 REDnews Award winners

Best Technology Pivot:
Hartman Income REIT: NeedlePoint Bi-Polar Ionization (winner)

City/Municipality of the Year:
City of Seabrook (winner)

Most Significant Investment Sale of 2020:
Katy Multifamily (winner)

Suburban Multifamily (Market Rate):
The Park at Tour 18 Apartments (winner)
The Lane at the Waterway
Two Lakes Edge
he Crawford at Grand Morton

Urban Multifamily (Market Rate):
Crimson Gables Signature Collection
Tower 5040
The Montrose at Buffalo Bayou (winner)

Industrial, Manufacturing and Science:
Katy Prairie Business Park
Landmark at the Grove
Nexus Park Northwest
Parc 59 (winner)

Office Project:
Avidian Wealth Management
Village Towers Phase 1 (winner)

Interior Design (Retail, Restaurant and Hospitality):
Eden Salon Suites (winner)

Interior Design (Office, Industrial and Corporate):
Centurion Pipeline L.P. Corporate Office
2nd MD Corporate Office
OCI Methanol (winner)

2020 Broker Pivot of the Year:
David Baker of Transwestern (winner)
Kimberly Morris of Keller Williams Platinum

Redevelopment and/or Historic Adaptive Reuse:
3201 Allen Parkway
Baybrook Terrace Shopping Center remodel
Meyerland Market H-E-B at Meyerland Plaza redevelopment (winner)

Lifetime Achievement Award:
Welcome Wilson, Sr of the Welcome Group

Real Estate Lawyer of the Year:
Derek Pershing of Wilson Cribbs & Goren (winner)

Retail/Restaurant:
Bellaire Town Center
Meyerland Market H-E-B at Meyerland Plaza (winner)

Best COVID Plan:
Goree Headquarters
HHCares (winner)
Hartman Income REIT

2020 Superstar:
Kimberly Morris of Keller Williams Platinum
Grant Pearson of Jackson-Shaw (winner)

Brokerage Firm of the Year:
Belvoir Real Estate Group
Caldwell Brokerage Company
Cushman & Wakefield
Transwestern Real Estate Services (winner)

Emerging Leader of the Year:
Will Curtus of KW Commercial City ViewMike Pittman II of Urban Partnerships Community Development Corporation
Vince Strake of Cushman & Wakefield (winner)
Myra Vorrice of RESOLUT RE

Social Media Influencer of the Year:
Will Curtis of KW Commercial City View
Tiffany Ryland of Arvo Realty Advisors (winner)

Most Significant Lease Transaction:
Park Towers Relocations
Western Midstream at The Woodlands Towers at The Waterway (winner)

Broker of the Year:
Brandon Clarke of JLL
Jim Foreman of Cushman & Wakefield (winner)
Kyle Fischer of Belvoir Real Estate Group
Doug Little of Transwestern
Reed Vestal, SIOR, CCIM of Junction Commercial Real Estate

Property Manager of the Year:
Robert Paul Brezina III of Fidelis Realty Partners
Kaci Hancock of REIS Associates
Laura Harvey of Stream Realty Partners
Natali Juarbe of Granite Properties (winner)
Lan Nguyen of Fidelis Realty Partners

Architect/Engineer of the Year:
Ben Allsop, P.E. of Kimley-Horn & Associates
F. Sabir of FS Group Architects
Melissa Turnbaugh of PBK (winner)

Executive of the Year:
Shane Cawood of Hartman Income REIT
Matthew Goldsby of Belvoir Real Estate Group
Michael G. Scheurich of Arch-Con Construction (winner)

Woman of the Year:
Dianna Bridger of Cushman & Wakefield
Lynn Davis of Fidelis Realty Partners (winner)
Helena Finley of Morgan Group
Susan L. Hill of JLL
Edna Meyer-Nelson of Richland Investments
Kimberly Morris of Keller Williams Platinum

General Contractor of the Year:
E Contractors USA
E.E. Reed Construction (winner) Rosenberger Construction

Mortgage Broker/Banker of the Year:
Hernan Garcia of Oakdale Mortgage
Tucker Knight of Berkadia (winner)

Developer of the Year:
Skanska USA Commercial Development The Howard Hughes Corporation (winner)

Lender of the Year:
Veritex Community Bank (winner)