Asthma Clinics of Texas, led by Dr. Jeffrey Sterling, bought 500 8th Ave. from Neville McArdle Properties LP of Lewisville. The doctors' group, which operates a clinic in nearby Arlington, got a property in the medical district and a 3,500-sf, long-term tenant, Dallas-based Primecare Home Health LP. The new owners will open an asthma clinic in the balance of the space.
Bill Jackson with Commercial Mortgage Connection in Fort Worth arranged the financing with a New York City investment bank, getting an 8.49% fixed-rate loan with a 25-year term and 25-year amortization. "They plan to open four more in this area before going nationwide," Jackson tells GlobeSt.com.
Tom Welsh with the Welsh Co. of Fort Worth represented the buyer. Deana Morton with North American Title Co.'s Hulen Street office handled the closing.
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