DALLAS, DECEMBER 2014 — 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 successfully secured JV Equity and Construction Financing for the development of Ravenwood Crossing—a 24,000 square foot to-be-built shopping center located in Huntsville, Texas. The Sponsorship, Brand Capital Partners, had significant pre-leasing at the time of closing and will begin construction on the Property in December 2014 with an estimated completion of August 2015.
The Property is located along Interstate 45 in the heart of Huntsville’s primary retail corridor. The Property will be built on a 3.26 acre pad site directly in front of a newly constructed Power Center anchored by SuperTarget, Kroger, Academy, PetCo, Ross and Marshalls. Additionally, the Subject Property will be located less than ¼ miles away from other prominent retailers such as Walmart Supercenter, JCPenney and Sears.
MCA arranged approximately $1,125,000 of JV Equity and $4,250,000 of Construction Financing. The Construction Financing was provided by a regional bank at 80% LTC with a rate of Prime + 1% (4.25%) fixed for 5-years. The JV Equity was provided by a Private Investor. MCA Senior Director, Sunny Sajnani was responsible for structuring the transaction.
Since 1992, Metropolitan Capital Advisors has closed in excess of $10 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 $500,000,000 of commercial real estate financing during 2014.