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Dallas/Ft. Worth Commercial Real Estate News From CoStar Group

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: New York City, Raleigh / Durham, Atlanta, Charlotte and St. Louis. NEW YORK CITY Cushman & Wakefield Taps Gorelick as Executive Managing Director, Head of Retail for the Americas By Justin Sumner 7/20/2017 7:29:57 PM

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Washington DC, New York City, Raleigh / Durham, Dallas / Ft. Worth, Minneapolis, Chicago, South Florida, California and more! WASHINGTON DC Ward Appointed President, CEO of Skanska USA By Bryce Meyers 7/14/2017 2:00:00 AM

Montreal-based Ivanhoé Cambridge made its first major move into the 'last mile' warehouse market this week, closing on its purchase of Evergreen Industrial Properties from private equity investment firm TPG Real Estate. The investment unit of Montreal pension fund advisor Caisse de Depot et Placement du Quebec announced it plans to buy more. Financial terms of the transaction were not disclosed, although media reports speculated the owner/operator...

7/14/2017 6:12:20 AM

Westwood Financial has hired Stuart Brackenridge as the senior vice president of acquisitions, dividing his time between the firm's Dallas and Los Angeles offices. Brackenridge brings more than 25 years of real estate investment expertise with a focus on grocery-anchored shopping centers, most recently serving in acquisitions and development roles at Regency Centers for the past 20 years, where he handled sourcing, underwriting and closing of core...

7/13/2017 12:10:18 AM

Great Neck, NY-based BRT Apartments Corp. (NYSE: GRT) teamed up with local equity partner MLG Capital to acquire a 509-unit apartment complex in suburban Dallas from Provident Realty Advisors in an off-market transaction for $85.7 million, or approximately $168,000 per unit. American Realty Investors (NYSE: ARL) developed the 509-Unit Mercer Crossing in two phases in 2014 and 2016 at 11700 Luna Rd. just south of I-635 and immediately west of the...

7/11/2017 1:43:52 AM

Capital Senior Living Corp. (NYSE:CSU), one of the largest senior living community operators in the U.S., has hired Brett D. Lee to serve as its executive vice president and COO. Lee is the current CEO of the North Texas and Dallas markets for Tenet Healthcare Corp., where he oversees five hospitals, a new joint venture with Baylor, Scott & White Health, 20 ambulatory sites, three freestanding emergency departments and a physician network. In...

7/10/2017 8:49:28 PM

Private equity investor Apollo Global Management has agreed to acquire Dallas-based ClubCorp Holdings Inc., (NYSE:MYCC) a major owner and operator of private business clubs and golf courses, in an all-cash deal valued at $1.1 billion. The offer of $17.12 per share for the publicly traded firm is a premium of just over 30.7% over ClubCorp's closing stock price on July 7. The decision by ClubCorp to accept the buyout offer from Apollo reverses...

7/10/2017 3:26:28 AM

Our Corporate Offices in Grapevine


Our Relocation Offices in Southlake


Beware of ‘Gotchas’ in Home Warranties

News Release No. 60, August 2005
By David S. Jones

According to the Gallup Poll, 79 percent of buyers and sellers rate home warranties as one of the most important considerations when buying a home. Home warranties are the fourth most important factor behind location, design and financing options.

But just because you have a home warranty doesn’t mean you have adequate protection. I know this will come as a shock, but all home warranties are not created equal.

The folks at collect both good and bad experiences on home warranties. Their goal is to educate consumers about the need for home warranties, how to pick the right company and warn consumers of the pitfalls. This column focuses on the latter.  Keep in mind that this list is based on opinions and experiences sent in by consumers rather than any scientific data or research.

The number one gotcha to watch out for is a big one for Texans — the air conditioner. While a bad wire may be covered, cleaning the coils is normally a standard maintenance item and not covered. And once the technician reports the dirty coils, your home warranty company may exclude all future air conditioning claims because you haven’t been taking good care of your equipment. Annual maintenance contracts are a way around this gotcha.

Keep in mind that pre-existing conditions are not covered by a home warranty. Therefore, it’s a good idea to have a professional check the air conditioning before you buy to rule out the possibility of a pre-existing problem.

A bad inspector, however, can cost you thousands in gotchas. It helps if the inspector has the warranty contract in hand when he does the inspection. Special attention needs to be given areas that require routine maintenance. The more detail you get in the report, the better. Ask for photos. And ask the seller to repair or replace anything that is excluded in the warranty or may be deemed a pre-existing condition.

Rust and corrosion also are potential trouble areas. Because they are common problems, rust and corrosion are excluded for the first 30 days of most home warranty plans.  Some exclude them altogether. This could mean trouble for getting your garbage disposal or hot water heater repaired.

If you examine a home warranty carefully, you are likely to discover that it does not pay a claim unless you call the warranty company before you have the problem fixed. One of the biggest gotchas occurs when you call in a home warranty claim. What you tell the person who answers the 800 number is important because it determines whether or not the problem is covered by the warranty.

What you tell the customer service representative is logged into the computer for reference to the current and future calls. If there’s any doubt, you may be told the broken item is “not covered.” Always be nice and professional when talking to the home warranty folks on the telephone. Keeping your cool nearly always gets better results.

There are many gotchas inherent to home warranties. The service technician answering your call may misdiagnose the problem. The warranty may have payout limits. Multiple items may be covered only at an additional cost. Refrigerators located outside the kitchen usually are not covered. Anything associated with a commercial purpose probably isn’t covered. Mold is not covered. You get the idea.

How do you avoid the gotchas with a home warranty? Do your homework. The best defense is to read the fine print.  




Our Real Estate Office Wins Prestigious Award

  The CENTURY 21 office of Mike Bowman was recently recognized for outstanding achievements for 2004 by the world’s largest franchiser in the world. CENTURY 21 Real Estate Corporation.

Based on production, this office achieved the rank of No. 1 in Texas and NO. 2 in the worldwide CENTURY 21 system. WIth more than 35 years of unsurpassed service to the Fort Worth-Dallas community, CENTURY 21 Mike Bowman, Inc. continues to be a top leader in sales production, customer service and unmatched technology.

“As a company, our goals is to provide our clients with knowledge and advice related to their real estate transaction and to offer them peace of mind and confidence during what maybe the most significant purchase of a lifetime,” said Bowman.

Awards received at the CENTURY 21 International Convention included the coveted Grand Centurion Office award. Quality Service Pinnacle award and the President’s award.

“The stellar performance of the sales associates, management team and staff is a testament to the significance of service and peace of mind afforded our clients,” said Bowman. “Their commitments and concentrated efforts made these accomplishments possible.”

The Grand Centurion award was presented to CENTURY 21 Mike Bowman, Inc., successfully closing 3,923 transactions.

“The level of success that CENTURY 21 Mike Bowman, Inc., has achieved truly exemplifies the professional excellence and commitment to service that the CENTURY 21 system as forged its reputation on,” said Thomas R. Kunz, president and chief executive officer of CENTURY 21 Real Estate Corporation.

The 155 career sales associates of CENTURY 21 Mike Bowman, Inc., are dedicated to maintaining the highest level of customer service. This dedication was acknowledged by CENTURY 21 International by honoring the office with the coveted Quality Service Pinnacle award. Each client is e-mailed a Quality Service Survey immediately after the purchase or sale of a home through CENTURY 21 Mike Bomwan, Inc. To earn the Quality Service Pinnacle award, an office must receive an average survey score of at least 95 percent over the past two years. The President’s award was given to 160 recipents out of more than 76,600 offices.
“ It is truly an honor to receive this award that exemplifies our associates outstanding sales production and total commitment to quality service,” said Jeane Dees, senior vice president.
This annual award is presented to CENTURY 21 System offices that achieve the CENTURY 21 Centurion award and the CENTURY 21 Quality Service Pinnacle award in the same award year.

“We are thrilled to recongize the work of CENTURY 21 Mike Bowman, Inc. for their momentous achivements,” said Kunz.

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