Metropolitan Capital Advisors, Ltd. (“MCA”) has arranged a land acquisition loan for a 9.77-acre tract located in Frisco, Texas at the northeast corner of Legacy Drive and Eldorado Parkway. The Property is located just a few miles north of the “$5 Billion Mile” in the heart of Frisco’s booming development market.
The Property is situated adjacent to an existing Market Street anchored shopping center and across the street from a Target anchored power center. Retail occupancies and rental rates remain healthy which continues to drive strong tenant demand for pad sites and inline retail space.
MCA Principal & Senior Director, Todd McNeill closed the $5,512,000 loan with a regional bank that provided a two year loan term with “interest only “payments while the developer plans to sell off pad sites and considers further development.
Since 1992, Metropolitan Capital Advisors has closed in excess of $12 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 $600,000,000 of commercial real estate financing during 2015.
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