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

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.