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

AT PM REALTY GROUP
Glen Perkins
Executive Vice President/
Managing Director,
Development/Acquisition Serv.
972-680-0106

AT GRIFFIN INTEGRATED MARKETING:
Stacy Sarault or
Tracy Rummel
Media Contact
281-335-0200

DALLAS, TX - PM Realty Group (PMRG), one of the nation’s leading full-service commercial real estate firms, recently entered into a joint venture with Quorum Equities Group, LLC to acquire the majority interest in Northpoint Professional Limited, owner of Northpoint Medical Center III and IV, located in North Dallas. The partnership is planning a major renovation to start in 30 days, which will consist of interior upgrades designed by McCalla Rios, LLC, one of Dallas’ leading medical architects, to create a patient friendly environment. Upon the completion of the renovation, the facility will be transformed into a Class A medical office building and surgery center.

Northpoint Medical Center consists of two medical office buildings located at 9250 Amberton Parkway and 12606 Greenville Ave. The redevelopment project includes major capital improvements and extensive tenant improvements. These include lobby, restroom and finish upgrades, a new roof and a new corridor system that will divide the space, thereby creating new rentable square feet of medical office space suited for the size requirements of most medical practitioners. Current plans also include a 15,000-square-foot surgery center being developed for a partnership formed by a group of leading medical specialists.

Construction is set to begin in September and will proceed according to the projected leasing demand for space now being marketed to physicians. Northpoint III and IV are approximately 30 percent leased. PMRG and Quorum believe the redevelopment will successfully increase the absorption rate due to the location, price point, capital upgrades and the inclusion of a major surgery center.

“We like the property due to its prime location with great access to both Presbyterian Hospital and Medical City Hospital coupled with its terrific accessibility to the major transportation arteries,” said Glen Perkins, executive vice president/managing director of development services for PMRG. “This redevelopment plan will greatly revitalize this centrally located real estate and provide much needed medical office space for physicians looking for prime space at lower rental rates than currently offered by Presbyterian or Medical City.”

PMRG currently serves as the property manager and will maintain the property management and leasing services for the facilities once the redevelopment is complete.

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.

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