DALLAS, November 2013 — 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 closed three (3) separate senior loans packages totaling approximately $27,300,000. MCA arranged the following senior loans all of which closed in three consecutive days during the second week of November, 2013:
- $6,900,000 permanent fixed rate mortgage at 75% Loan-to-Value (“LTV”) to refinance the Parkwood Shopping Center – a 28,450 s.f. shopping center shadow anchored by Academy and Aldi’s Grocer located in Ft. Worth. The non-recourse, senior mortgage provided by Cantor Commercial has loan term was 10 years with a 30 year amortization. The loan was rate locked at 5.3%. The borrower developed the property and refinanced to hold as a long term investment.
- $9,200,000 acquisition loan on behalf of Bosque River Center Realty, LLC. The property is a 221,000 s.f. Regional Power Center that is anchored by Tractor Supply, Hastings, JC Penny, Bealls along with a Cinemark movie theater. The property is located along Hwy. 377 in Stephenville, Texas. The non-recourse senior mortgage provided carried a 7 year term fixed at a 6% rate along with a 30 year amortization.
- $11,200,000 bridge loan on behalf of Bernard Court LLC and Jonesboro Crossroads LLC to refinance the two retail shopping centers. The properties are a combined 152,000 s.f. and are anchored by Hobby Lobby, Office Max, Ashley Furniture and Shoe Carnival. The properties are located within half a mile from one another along East Highland Drive in Jonesboro, Arkansas. The non-recourse bridge loan provided by a publicly traded mortgage REIT has a 3 year loan term with a floating interest rate. Proceeds of the
loan were used to payoff a matured conduit loan.
MCA Principals Scott Lynn and Todd McNeill were responsible for arranging these financings.
Since 1992, Metropolitan Capital Advisors has closed in excess of $9 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 completed over $350,000,000 of commercial real estate financing during 2013.