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Holt Lunsford Commercial Investments Secures $32.7 Million Loan From First United Bank For Development Site

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FINANCED
$32,700,000

Texas

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Development Site
Financed 08/21/2024
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Property Image
FINANCED

Holt Lunsford Commercial Investments Secures $32.7 Million Loan From First United Bank For Development Site

670 Masch Branch Road

See Similar Deals
Development Site
Financed 08/21/2024
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Development Site
Transaction Type:Loan

The asset involved in the transaction is a development site located at 670-710 Masch Branch Road in Denton, Texas. The site has a gross building square footage of 451,856. It is specifically designated for industrial purposes, contributing to the expanding Denton Point campus.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $32,700,000
  • Lender: First United Bank
  • Landlord: Holt Lunsford - Holt Lunsford Commercial Investments
  • Broker: Campbell Roche - JLL
  • Loan Terms: five-year

The transaction saw Holt Lunsford Commercial Investments secure the loan to support the second phase of the Denton Point project, which involves the addition of three new buildings. This phase follows the earlier sale of the first phase to Westcore earlier this year.

Players

Campbell Roche
JLL
Campbell Roche
5 deals$210.1M volume(469) 221-7770
BROKER
First United Bank
First United Bank
LENDER

Details

FINANCED
IMAGE: Holt Lunsford & Campbell Roche DATE: 08/21/2024 ADDRESS: 670-710 Masch Branch Road MARKET: Denton ASSET TYPE: Development Site ~ BSF: 451,856 LENDER: First United Bank (@First.United.Bank) LANDLORD: Holt Lunsford - Holt Lunsford Commercial Investments (@HoltLunsfordCRE) BROKER: Campbell Roche - JLL (@JLL) LOAN AMOUNT: $32,700,000 LOAN TERMS: five-year NOTE: Holt Lunsford Commercial Investments secured $32.7 million from First United Bank to fund the second phase of Denton Point, a 451,856-square-foot industrial development in Denton, Texas. The project will add three new buildings, expanding the campus, which previously sold its first phase to Westcore earlier this year.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$32,700,000.00

Monthly NOI$218,000.00
Monthly Debt Service$206,686.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00