DALLAS, June, 2013 — 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 Guidance Line of Credit for a local Real Estate Developer to acquire and develop single-tenant NNN properties Nationwide. The developer specializes in single tenant retail properties and has a successful track record in maximizing value for their investors.
The Guidance Line of Credit, in the amount of $15,000,000 will allow the Sponsor to draw 90% of cost (“LTC”) for credit tenants and 75% of cost (“LTC”) for non-credit tenants. The Guidance Line has a construction completion guaranty that will burn off to a limited guaranty to the developer once the tenant is in occupancy.
MCA secured the $15,000,000 Guidance Line of Credit with a regional bank. MCA Senior Director, Hook Harmeling was responsible for arranging the financing.
Since 1992, Metropolitan Capital Advisors has closed in excess of $8.7 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 completed over $450,000,000 of commercial real estate financing during 2012.