Metropolitan Capital Advisors Arranges A $2,800,000 Acquisition Loan For 505 Center

12/12/16

Metropolitan Capital Advisors, Ltd. has arranged acquisition financing for 505 Center, a 33,766 SF retail shopping center located in College Station, Texas. The retail strip center is well positioned with great frontage along University Drive, located in the heart of the main retail corridor in College Station. 

The Property was 100% leased at acquisition to a collection of national and regional tenants including Fox & Hound, Edward D. Jones & Co., Aggieland Eye Care and Cavalier Cigar. The Property was purchased by 505 University Center, LLC, a Texas-based entity which plans to hold the asset as a long-term investment. The Property has maintained an average occupancy of +94% the last several years, which validated our Client’s view that this will be a stable, long-term asset. 

Sunny Sajnani, Principal Director at MCA, and Duke Dennis, Senior Analyst at MCA, were responsible for arranging the $2,800,000 Acquisition Loan with Bryan/College Station-based The Bank & Trust, which closed at the acquisition of the Property. MCA secured a 20-year adjustable rate mortgage with an interest rate which is fixed for the first 5-years and resets every 5-years thereafter. 

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 $650,000,000 of commercial real estate financing during 2015. 

Sunny Sajnani
972.267.0600
www.metcapital.com
ssajnani@metcapital.com

Duke Dennis
972.267.0600
www.metcapital.com
ddennis@metcapital.com

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