The expansion is scheduled to be done before the 2007 holidayshopping season. The owners are adding 45,000 sf of office spaceand 41,000 sf of retail space around a four-story parking garage.The 40-year-old Town and Country Village at 12850 Memorial Dr. wasrenovated in 1996.

"The center has done extremely well for them historically andit's adjacent to the old Town & County Mall that's beingdeveloped into the CityCentre," says Dave Kocourek, seniorportfolio manager with Chicago's Allstate Real Estate InvestmentGroup, which financed the project. He tells GlobeSt.com that MoodyRambin and locally based Midway Cos., which is developing the1.1-million-sfCityCentre, are trying to create synergy between the twoassets, which is one reason for Town and Country Village'sexpansion. "Moody Rambin is looking to capitalize on what's goingon adjacent to this," he adds.

Allstate also funded Moody Rambin's acquisition of Town andCountry Village in 2004. Kocourek says the construction financing,which has a fixed rate, will run co-terminus with the $55-million,10-year acquisition loan.