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Follow on Google News | Quantum Capital Partners Secures $22 MM in Financing on Two Texas Shopping CentersFinancing Texas Commercial Real Estate more of a challenge due energy sector fears
By: Quantum Capital Partners “The volatility in the energy sector has made financing non-core real assets in Texas more of a challenge,” said Quantum Capital Managing Director Mike Yim who along with partner Jonathan Hakakha arranged the financings. “We were able to mitigate many of the lenders’ concerns by demonstrating our sponsors’ successful track record with each asset along with other industries in the respective markets that would support the centers if the energy sector continued to decline.” In the larger of the two financings, Quantum (http://www.quantumcp.com) Quantum also secured a $9.15 million permanent loan for another Los Angeles-based investor operating as Rancho Sunset Plaza LP to refinance Sunset Plaza a 90,000-square- Both fixed rate loans were underwritten at 75% LTV and priced at approximately 250 basis points over the 10-years swaps. The financings also included three years interest only, a difficult task given the properties were located in secondary markets. End
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