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DALLAS-American Realty Investors secures a $12.5-million loan to push the completion of its latest project, a 226,911-sf spec office tower in North Dallas.

Vestin Mortgage Co. of Las Vegas provided the financing for the Mercer Crossing building, due to deliver in November. Loan details are not being disclosed.

The eight-story Four Hickory Centre at 12821 Mercer Crossing Blvd. is attracting interest, but has yet to grab a signed tenant, confirmed Phyllis Wolper, investor relations director. The office building is the largest of the structures to rise to date in the 1,000-acre, mixed-use project being developed by American Realty and its affiliates. Capstar Commercial recently landed the leasing assignment for the development, which is practically leased save for the newest family member.

Four Hickory Centre is positioned on a 5.5-acre tract and includes dedicated space for a restaurant and retail. Construction also is under way on a 700-space parking garage. Until this year, Mercer Crossing Boulevard was the only interior street connecting the main development to Interstates 35 an 635 and Texas 161. Roads have been extended and Lakeway Boulevard widened to facilitate access.

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