Brydant in the News
Brydant CEO, Scott Backes Speaks on Senior Living Development Panel
September, 2017 – The State of Phoenix Healthcare and Senior Living Development was held on September 27, 2017 in downtown Phoenix, Arizona. The discussions centered around “How are New Trends Affecting the Real Estate Market?” Brydant’s Chief Executive Officer, Scott Backes spoke on the panel of Senior Living Development Update: What New Developments & Innovations are in the Pipeline?
Senior living developments have a very positive outlook for the future. With a current estimated supply shortfall of 463,000 senior living units, there are currently 56,000 units under construction in the second quarter of 2017. Of these units under construction, half are in the Top 10 markets: (1.) New York City (2.) Atlanta, (3.) Phoenix, (4.) Chicago, and (5.) Dallas. Phoenix is currently climbing the charts in several areas of senior housing:
- Phoenix is #3 in number of units under construction with 2,600 units
- Phoenix is #6 for stabilized occupancy with a current occupancy rate of 87.1%
- Phoenix is #2 in senior population growth, with current population growth of seniors at 5.1%
With over 20 million residents in the U.S. that are over the age of 75, the need for senior housing will continue to grow and Phoenix is in a prime position to capture many of these developments.
Reference: National Report-Senior Housing Research, Marcus & Millichap, Second Half 2017
New Senior Housing Development in Amarillo, TX
August 2016 – Brydant Development Services partnered with Group 15 Investments LLC (Amarillo, TX) to finalize the design and financing of a stalled Senior Living project in Amarillo, TX. Brydant contracted a new market study which proved to be very strong and determined financial feasibility. The project will consist of 108 Independent Living Units, 65 Assisted Living Units, and 38 Memory Care Units. Life Care Services (LCS) is one of the largest senior living management companies in the U.S., has been engaged as manager of the project. This Healthcare Campus is estimated at $65,000,000. This project will be financed using a tax exempt bond approach. Dekker Perich Sabitini Architects (Albuquerque, NM) have been engaged by Brydant and WEITZ Construction (Phoenix, AZ) will be the Design Build Contractor. Construction commencement is set for October 2017.
Brydant Receives Over $50M in Public Tax Incentive Approvals
November 2015 – Brydant Development Services received approval from the City of Mesquite, TX (Dallas County) for a Tax Increment Financing District to be known as the Westside Tax Increment Finance Reinvestment Zone No. Seven in the Total Amount of $26,400,000. In addition J. Scott Backes, President & CEO of Brydant was appointed to the Mesquite Medical Center Management District Board of Directors, also known as the Mesquite Improvement District No. 1 allowing special assessments of surrounding parcels to support the Medical Management Development providing approximately $30,000,000 in additional tax revenues back to the Verde Center.
New Regional Healthcare Development in Dallas County, TX
August 2015 – Brydant Development Services and The Peachtree Foundation of Texas have teamed together to bring this exceptional healthcare development to fruition. The Verde Center at Peachtree will be a highly amenitized 60 acre mixed-use medical campus located on I-635, (the “LBJ Freeway”), within the City Limits of Mesquite, Dallas County, Texas. At full build-out it will consist of a $230 million patient-centered medical campus designed to meet the unique needs of Mesquite and the eastern Metroplex. It will feature a state-of-the-art center for integrative health and wellness and will be co-anchored by a regional acute care hospital.
Ultimate build-out is scheduled to occur over the next 5 years with vertical construction commencing within approximately 6 months. Opening of the Center for Integrative Health should occur approximately 18 months thereafter with construction of the fitness center, hotel and senior housing to follow closely behind. The project is a true public-private venture and is funded, in part, by financial incentives provided by the State of Texas, City of Mesquite, and the Brydant Development Financing Model. It is being developed by seasoned professionals in collaboration with a consortium of like-minded healthcare providers with strong commitments to excellence and a team approach to community health and well-being.
Brydant Completes Corporate Merger, Bringing Jobs to Phoenix, AZ
April 2015 – Brydant, Inc. completes the corporate merger of Anaheim, CA based Omni-Duct Systems with Phoenix, AZ based Typhan Metal Products. Omni-Duct is one of the largest sheet-metal air duct manufacturers in the United States while Typhan is the second largest in the Arizona market. The merger was introduced by Brydant after establishing relationships with both competitors and seeing the potential of increasing profit margins, decreasing capital & operating expenditures, and expanding market share. The negotiated merger produced value for both parties ending with a “win, win” outcome.
Brydant Completes 145,000 SF Corporate Facility, Creating Jobs in Phoenix, AZ
March 2015 – Brydant, Inc. completed a new 145,000 SF Manufacturing/Distribution Facility for its client Brooklyn Bedding/R&S Mattress located at 4455 W Camelback Rd Phoenix AZ. The total project cost was approximately $9,100,000. Brooklyn Bedding (aka Dreamfoam Bedding) is a No. 1 Amazon.com mattress seller and has 20 retail locations. Brydant performed multiple services in the project including: Feasibility Studies, Site Selection, Exit Planning, Preliminary Site & Facility Design, Financing, Project Management, Owner’s Representation, and $1.5M savings on a Cost Segregation Study.
- Financing: SBA 504 Development (Largest in AZ – 2015)
- Warehouse: 133,000SF with 30′ Clear Height
- Docks: 24 Dock High and 2 Grade Level
- Office: 6,000 SF
- Showroom: 6,000 SF
- Power: 2500 Amps at 277/480
- Fire: ESFR
- Exit Strategy: Dual Tenant Potential with Mirrored Design & Parking
“Our new facility has enabled us to increase our productivity by 30-50% while reducing our manufacturing costs by 20%!”
– John Merwin, President of Brooklyn Bedding
Phoenix Mattress Company Opens $9M Manufacturing Plant
May 2015 – Valley mattress retailer R&S Mattress and its online counterpart, Brooklyn Bedding, are working to become the largest direct-from-factory mattress retailers in the U.S. with a recently opened $9.1 million, 145,000-square-foot factory in Phoenix. John Merwin, owner of R&S Mattress and Brooklyn Bedding, held a grand opening celebration last week for the factory, which is near 45th Avenue and Camelback Road.
Brooklyn Bedding built the factory because Merwin was not able to find an existing space to lease that was the right size or had some of the facilities that he needed. Merwin worked with Scott Backes of Brydant Inc. to find the land and build the factory. Wells Fargo and the Small Business Administration helped Merwin finance the construction of the plant. Merwin said financing was only for the building. He already owns $7 million worth of manufacturing equipment.
Continue reading article on the Phoenix Business Journal.
2nd Largest SBA Loan in Arizona
December 2014 – AV-Air Inc. received an SBA 504 loan for $4.04 million, and that proved to be the largest such loan granted in Arizona during the most recent fiscal year. R&S Mattress (Brooklyn Bedding) was second with a loan for $3.6 million and Peddler’s Son Produce third with a loan for $2.38 million. The SBA’s 504 certified development company program enables growing businesses to secure financing for major fixed assets, such as real estate.
Continue reading article on the Phoenix Business Journal.