January 2, 2010
Andy Sarwal
A virtual unknown in the local real estate community, Sarwal is overseeing one of the few large mixed-use projects still going forward in the region: University Park, a $750 million complex that is transforming the former Concordia University campus north of downtown into apartments, townhomes, a hotel, a movie theater, offices and retail space.
Last year, Sarwal and his mystery investors raised $39 million to finance the first office building, now home to Texas Monthly magazine and an Aveda Institute salon training school.
Financing for major real estate developments remains unusually difficult to obtain, but Sarwal said recently that funding is in place for the hotel, a Hyatt concept called Andaz, and a planned 450,000-square-foot building that will include a Premiere Cinema Corp. theater and about 340 apartments.
'I just know I'll drive longer distances and to all the ends of the Earth to accomplish something,' Sarwal said. 'I will get a deal done.'
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