Dallas, Texas-based Metropolitan Capital Advisors (MCA), a financial intermediary specializing in the exclusive representation of investors, developers, property owners and investors in the commercial real estate capital markets, has arranged three (3) separate senior loans packages totaling approximately $10,065,0000
- $5,750,000 permanent fixed rate mortgage at 75% Loan-to-Value (“LTV”) on behalf of MWGW Development LLC to refinance the Sierra Condos – a 75 unit student housing property located less than a mile from the campus of Texas A&M University. The non-recourse, senior mortgage provided by MC Five Mile has loan term was 10 years with a 30 year amortization. The loan was rate locked at 5.16%. MWGW Development delivered the Sierra Condos to the market for the beginning of the 2012/2013 school year and was 100% leased prior to the fall semester starting. The property is already 100% pre-leased for the upcoming school year.
- $3,700,000 high-leverage bridge acquisition and predevelopment loan secured by three (3) contiguous buildings totaling 47,100 sf located on Elm Street in the heart of downtown Dallas. The Sponsor will use the loan proceeds to prepare the three buildings for redevelopment. The proposed Mid Elm redevelopment, slated to start later this year, will include 24 loft-style residential units with 17,600 SF of ground floor and basement restaurant and retail space. The buildings are located in heart of downtown Dallas which is experiencing tremendous residential, office and retail redevelopment. The financing was provided by UC Funding.
- $615,000 bridge loan for the acquisition of 1985 Forest – a two-story, 17,200 sf office building located on Forest Lane in Garland, TX. The financing was provided by Graham Mortgage. The Sponsor negotiated a favorable purchase price with the Seller by agreeing to close within a very short timeframe. MCA arranged the financing with Graham and the loan was closed within three weeks of execution of a term sheet.
MCA Senior Director Brandon Miller was responsible for arranging the financing for all three deals.
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.