PM Realty Group
910 Travis, Suite 1000
Houston, Texas 77002

AT PM REALTY GROUP:
Glen Perkins
Executive Vice President
Development and Acquisition Services
972-680-0106

AT WEBER SHANDWICK:
Laurel Krome
Media Contact
312-988-2044

PM Realty Group Developing 7.6 acres in Granbury, Texas

GRANBURY, TX – PM Realty Group, one of the nation’s leading full-service commercial real estate firms, today announced that it has been awarded the development assignment for Courtyards at Lake Granbury in Granbury, Texas. Currently under construction, the assisted-living facility is situated on approximately 7.6 acres of land just east of Lake Granbury. The Courtyards development is scheduled to open in April 2005. The Oak Partners, L.P., located in Granbury, Texas awarded the development assignment to PM Realty Group, L.P., in partnership with McCallaRios, L.L.C.

Glen Perkins, Executive Vice President of Development and Acquisitions Services at PM Realty Group, and Kerry Burden, Vice President of Construction and Development Services, will oversee all phases of development along with McCallaRios, L.L.C. A groundbreaking ceremony took place in May 2004, with construction commencing immediately thereafter.

Courtyards at Lake Granbury is this year’s second development assignment for PM Realty Group. PM was also awarded the development assignment for the Tuscan Professional Building in Las Colinas, Texas. The construction of Tuscan was completed recently, and physicians have begun moving into the building, which is already 95 percent leased.

“We are pleased to be a part of this prestigious new development,” said Glen Perkins of PM Realty Group. “Our medical office and residential expertise and success in the Dallas-Ft. Worth market positions us to be at the forefront of the growing medical office and senior-living development trend.”

The 84-unit assisted-living facility will be located just east of Lake Granbury and south of Highway 377 at the intersection of Second Street and Calinco Drive in Granbury, Texas about 35 miles southwest of Fort Worth. The one-floor facility will include a spacious courtyard overlooking Harbor Lakes, a private golf course and residential community.

The architects for the building are GSR-Andrade based in Dallas. Financing for the project was provided by S&B Bank based in Oklahoma City.

About PM Realty Group

PM Realty Group is a privately-held real estate service organization with more than 1,300 employees and 20 divisional and regional offices. Based in Houston, Texas, the company traces its roots back to 1954. PM Realty Group today conducts business in nearly every state, providing comprehensive real estate services to institutions, investors, corporations, real estate investment trusts, government agencies and healthcare providers.

PM Realty Group offers clients the full spectrum of real estate services, including property and facility management, leasing and marketing, corporate services, investment services, construction management, asset management and development, engineering services, portfolio administration, disposition and acquisition, consulting and due diligence and healthcare services.

Back to 2004 News