Tuesday, June 7, 2016

Franklin Street Capital Advisors Closes $1.5 Million Refinance Loan for Cushing Plaza in Cushing, OK

Cushing Plaza, Cushing, OK
TAMPA, FL (June 7, 2016) — Franklin Street Capital Advisors (FSCA) has closed a $1.5 million refinance loan for Cushing Plaza, a 66,454-square-foot shopping center located in Cushing, Oklahoma.

 Ben Miller and Casey Siggins of FSCA secured the loan on behalf of the owner, Lone Star Equities, Inc. The 10-year loan includes a 4.5 percent fixed rate with a 20-year amortization.

“We were able to overcome significant challenges to secure this loan, including an out-of-market sponsor and significant lease roll over during the next two years,” Miller said. “This cash-out refinance will allow the borrower to make improvements to this asset as well as other assets within his portfolio.”

Anchored by Cost Cutter, the 7.59-acre property is located at 2220 East Main Street on a main thoroughfare and is currently fully leased. Other tenants at the center include Hibbett Sporting Goods, Stage Stores, Stanley’s Rent to Own, and Compliance Advantage.

For a complete copy of the company’s news release, please contact:

  Kelsy Van Camp
813-839-7300, ext. 337

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