Marcus & Millichap Capital Corporation arranges $13.5 million financing for five Texas acquisitions

Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $13.5
million in financing in five acquisitions in Texas. The financings were exclusively arranged
by Duke Dennis, director of the MMCC.

The five loans covered metropolitan areas of the state as well as a diverse range of assets
classes, including an industrial building, a single-tenant commercial building and three multi-tenant buildings
commercial properties.

Chris Gainey, Senior Vice President, Investment Sales, Marcus & Millichap, represented the buyers in the Waco, Austin and Fort Worth sale transactions and represented the seller in the Arlington transaction. Vince Knipp, Senior Managing Director, Investment Sales and Salim Bhaidaini, Partner, Marcus & Millichap, represented the seller in the Waco transaction.

“We were able to secure competitive acquisition financing against a backdrop of growing enthusiasm for
commercial properties with reliable anchor tenants in growing metropolitan markets, particularly Texas, which is experiencing a major influx of consumers,” said Dennis. “These operations are a
demonstrates both our extensive lending network and the confidence of the Texas capital markets.

transaction details

● Dyer Industrial Park (El Paso) – MMCC secured a $3.5 million loan to acquire a 102,538 square foot industrial property at 10885-11135 Dyer Street comprising 19 buildings and 53 suites. 75% LTV financing over 10 years has an interest rate of 4.25%.

● 600 North Valley Mills (Waco) – MMCC secured a $1.9 million loan to acquire a 3,421 square foot retail property anchored by PLS Check Cashers. 70% LTV financing over 10 years has an interest rate of 3.99%.

● Boutiques at Landmark Quebec (Fort Worth) – MMCC secured a $3.85 million loan to acquire a 10,268 square foot multi-tenant shopping center anchored by PNC Bank and Jason’s Deli at 6500 Northwest Loop 820. The seven-year, 70% LTV financing has an interest rate of 3.82%.

● 165 Hargraves Drive (Austin) – MMCC secured a $2.76 million loan to acquire a 5,387 square foot building, anchored by Sleep Number and the Swim Studio and built in 2021 as part of Belterra Village, a multi-tenant shopping center. 70% LTV financing over 12 years has an interest rate of 3.75%.

● Matlock Center (Arlington) – MMCC secured a $1.35 million loan for the acquisition of a 10,632 square foot multi-tenant shopping center purchased by Salim Bhaidaini. The property is anchored by Edible Arrangements, Auto Detailing Supplies and Matlock Salon Suites, at 450 Matlock Road. Seven-year 65% LTV financing has an interest rate of 3.75%.

(Visited 1 time, 14 visits today)