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Beau Engman Of PACE Equity And Lee McCormick Of Lone Star PACE Provide $2.4M Loan For Medical Office In Plano

Property Image
FINANCED
$2,400,000

Texas

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Medical Office57,000 SF
Financed 09/26/2025
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Property Image
FINANCED

Beau Engman Of PACE Equity And Lee McCormick Of Lone Star PACE Provide $2.4M Loan For Medical Office In Plano

5501 Independence Parkway

See Similar Deals
Medical Office57,000 SF
Financed 09/26/2025
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Medical Office
Price Per Square Foot:$42
Total Square Footage:57,000 SF
Transaction Type:Loan

The property involved in this transaction is a 57,000 square foot medical office building located at 5501 Independence Parkway in Plano, Texas. The transaction involves a loan amount of $2,400,000 allocated for renovations at the Independence Medical Center.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $2,400,000
  • Address: 5501 Independence Parkway
  • Market: Plano
  • Lender: Beau Engman - PACE Equity
  • Lender: Lee McCormick - Lone Star PACE

The loan provided by PACE Equity and Lone Star PACE is designated for capital improvements, which include the installation of new HVAC systems, modernization of common areas, and the addition of 56 solar-paneled covered parking spaces at the property.

Players

PACE Equity Finance
PACE Equity Finance
LENDER
Lone Star PACE
Lone Star PACE
LENDER

Details

FINANCED
IMAGE: Beau Engman & Lee McCormick DATE: 09/26/2025 ADDRESS: 5501 Independence Parkway MARKET: Plano ASSET TYPE: Medical Office ~ SF: 57,000 LENDER: Beau Engman (@Beau_Engman)- PACE Equity & Lee McCormick - Lone Star PACE LOAN AMOUNT: $2,400,000 NOTE: PACE Equity and Lone Star PACE provided $2.4M in C-PACE financing for renovations at Independence Medical Center, a 57K SF medical office building in Plano, TX. Upgrades include new HVAC systems, modernized common areas, and 56 solar-paneled covered parking spaces.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,400,000.00

Monthly NOI$16,000.00
Monthly Debt Service$15,169.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00