Peter Dunn (top right photo), a senior director in MMCC’s Houston office, arranged the loan.
“CMBS 2.0 is back in business in Houston’s retail sector,” says Dunn. “Lenders are willing to finance unanchored retail centers, at full leverage, on a nonrecourse basis.”
“MMCC’s experience with Wall Street and CMBS lenders gave the client confidence that the transaction would close at the desired loan dollars and rate,” adds Dunn.
The loan was structured with a 10-year term and amortizes over 30 years with an interest rate of 4.9 percent. The LTV is 75 percent.
Press Contact:
Stacey Corso
Marcus & Millichap Capital Corporation
(925) 953-1716
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