Quantum Capital Partners Secures $22 MM in Financing on Two Texas Shopping Centers

Financing Texas Commercial Real Estate more of a challenge due energy sector fears
By: Quantum Capital Partners
 
BEVERLY HILLS, Calif. - Feb. 4, 2016 - PRLog -- In two separate transactions, real estate capital advisory firm Quantum Capital Partners has arranged $22.15 million in long-term, non-recourse debt to refinance regional shopping centers in Frisco and San Angelo, TX.

“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) secured for a Los Angeles-based investor operating as TRT-QL Frisco, LP, a $12.9 million non-recourse permanent loan to replace the maturing debt on Frisco Plaza, a 62,500-square-foot retail center in Frisco, TX.  Quantum was able to arrange attractive terms despite lender concerns that a single special use tenant represented a large percentage of the rent roll.  Located at Preston Road and Highway 21, the property benefits from its prime location across the street from General Growth Properties’ 1.6 million square-foot Stonebriar Centre, the primary retail destination in what is one of the wealthiest and fastest growing suburbs in Dallas.

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-foot regional power center in the West Texas city of San Angelo.  The asset is located on Sunset Drive at Highway 67 and Loop 306.  It is situated in the center of one most active retail area in San Angelo, with approximately one million square feet shopping and entertainment space within one square mile.  Sunset Plaza is anchored by Target, Bed Bath and Beyond, Petco and Ross.  Other major retailers in the area include Lowe’s, Walmart Supercenter, Sam’s Club, Dillards, Home Depot, and Best Buy.

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.

Contact
Bruce Beck
***@dbrpr.com
End
Source:Quantum Capital Partners
Email:***@dbrpr.com Email Verified
Tags:Debt, Finance, Mortgage
Industry:Financial
Location:Beverly Hills - California - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
DB&R Marketing Communications News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share