Crest Properties secured the financing for the project through adeal orchestrated by Paul Brighton, vice president and seniorproducer for Minneapolis-based NorthMarq Capital Inc.'s Dallasoffice, and Anson Chan of Global Star Mortgage of Garland, TX.Brighton tells GlobeSt.com that the groundbreaking is the first oftwo phases that Crest is planning for the residential area near anAllen Independent School District Middle School and Ford Park, amunicipal recreational complex.

Crest Place will consist of eight buildings and an officestructure positioned on 8.8 acres. Delivery is set for thirdquarter 2002. Still to come will be a multifamily project on 5.9acres just across the road.

Crest Properties owns other Dallas-area complexes, but thelatest undertaking is the first new one to come out of the groundfor the portfolio. Crest acquired the Allen land in February. "It'sa real strong infill location," says Brighton.