Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, TX-Caddis Partners LLC and MedProperties Holdings LLC have joined forces to launch a second project, the Texas Clinic at Arlington. Financing has closed on the 110,000-square-foot clinic and groundbreaking is imminent, with completion approximately 12 months down the road.

“There hasn’t been a new, class A medical office building out there since the mid-1990s,” explains Jason Signor, Caddis Partners principal and partner. “A lot of the buildings in the community are older and somewhat antiquated.” The three-story building at the intersection of Arbrook Boulevard and Matlock Road is built has been designed with sustainability in mind to cut electricity costs, and Signor tells GlobeSt.com that application for LEED certification is in its future.

Texas Clinic at Arlington will be built in two phases, and the first phase, totaling 70,000 square feet, has been 72% pre-leased to mainly primary care physicians. Approximately one-third of the first phase will contain specialists. The second phase will be geared to specialty professions.

Signor acknowledges that obtaining financing for the project was difficult, but the joint venture was able to finance the construction through Northstar Bank in Denton, TX. MedProperties is providing approximately 50% of the project’s equity. Corgan Associates is the architect of record and Hill & Wilkinson the general contractor.

Caddis Partners and MedProperties, both in Dallas, first teamed up on the 65,000-square-foot Reliant Rehabilitation Hospital-Mid Cities, which broke ground last September. That project is scheduled for a fall 2010 opening.

Signor says the joint venture is planning for more buildings to go vertical in 2010. “We’re hoping to announce more in the next 60 to 90 days,” he adds. “At this point, lending has been the holdup, but when we get that approved, we can move forward.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.