Metropolitan Capital Advisors Closes $17,600,000 Permanent Fixed Rate Commercial Real Estate Mortgage for a 16 property warehouse portfolio in Oklahoma City.
DALLAS, July 16, 2012 — Dallas, Texas-based Metropolitan Capital Advisors (MCA), a financial intermediary specializing in the exclusive representation of investors, developers and property owners in the commercial real estate capital markets, has arranged a $17,600,000 fixed rate mortgage for the DSB Portfolio (“DSB”).
DSB is a collection of sixteen (16) industrial properties comprised of 504,150 s.f. of industrial/flex space located throughout the Oklahoma City SMSA. The sixteen (16) properties are collectively 95% occupied and leased to a variety of credit tenants including FedEx, Trane Air Conditioning, Cintas Corp. and the State of Oklahoma DHS who occupies approximately 45% of the Portfolio.
The Portfolio is controlled by three (3) related entities that include DSB Properties (“DSB”), Gardner Realty Properties (“GRP”) and Santa Fe Development (“SFD”). The new $17.6mm mortgage cross collateralized all three entities. The 75% LTV fixed rate mortgage was locked at an interest rate of 4.91%, with a 30 year amortization. The mortgage proceeds were used to payoff of the existing debt, complete various repairs/upgrades, pay closing costs and to return a portion of the equity.
MCA Senior Directors, Todd McNeill & Sunny Sajnani were responsible for arranging the commercial real estate mortgage financing with a CMBS Conduit.
Since 1992, Metropolitan Capital Advisors has closed in excess of $8.5 billion of debt and equity transactions. National Real Estate Investor Magazine has consistently ranked MCA as one of the top CRE Financial Intermediaries in the US. MCA has already closed over $200,000,000 of commercial real estate financing during 2012.