facebook
Traded Co logo
Submit

Younger Partners Investments Secures $60.7 Million Loan From Bank United For Retail Acquisition

Property Image
FINANCED
$60,700,000

Texas

See Similar Deals
Retail576,126 SF
Financed 12/18/2024
the dealplayerscompscontact
Property Image
FINANCED

Younger Partners Investments Secures $60.7 Million Loan From Bank United For Retail Acquisition

2014 West University Drive & 3092 North Eastman Road

See Similar Deals
Retail576,126 SF
Financed 12/18/2024
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:Retail
Price Per Square Foot:$105
Total Square Footage:576,126 SF
Transaction Type:Loan

The transaction involves the acquisition of two retail centers located at 2014 West University Drive and 3092 North Eastman Road in the McKinney and Longview markets. The total square footage for the assets is 288,063. The total loan amount secured for this acquisition is $60,700,000, which will facilitate the purchase of these stabilized properties.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $60,700,000
  • Lender: Bank United
  • Landlord: Younger Partners Investments
  • Broker: Adam Mengacci - Institutional Property Advisors
  • Asset Size: 288,063 SF
  • Market: McKinney, Longview
  • Current Occupancy: 98% for 380 Towne Crossing, 96% for Longview Towne Crossing
  • Notable Tenants: Target, Lowes, PetSmart, Five Below, Old Navy, Kohl’s

Adam Mengacci, Managing Director at Institutional Property Advisors in Dallas, led the Capital Markets team to secure and structure 80% of the capital stack for this deal. The financing includes a three-year bank loan from Bank United and preferred equity from TriGate Capital, supporting Younger Partners Investments in expanding their retail portfolio across Texas.

Players

Adam Mengacci
Institutional Property Advisors
Adam Mengacci
6 deals$153.5M volume
BROKER
Bank United
Bank United
LENDER

Details

FINANCED
IMAGE: Adam Mengacci DATE: 12/18/2024 ADDRESS: 2014 West University Drive & 3092 North Eastman Road MARKET: McKinney, Longview ASSET TYPE: Retail ~ SF: 288,063 LENDER: Bank United (@BankUnited.Official) LANDLORD: Younger Partners Investments BROKER: Adam Mengacci (@AdamMengacci) - Institutional Property Advisors LOAN AMOUNT: $60,700,000 LOAN TYPE: Acquisition NOTE BROKER: IPA Capital Markets, a division of Marcus & Millichap specializing in capital markets services for major private and institutional clients, has arranged $60.7 million in bank financing and preferred equity for the acquisition of two retail centers totaling 288,063 SF in McKinney and Longview, Texas, for Younger Partners Investments IPA’s Capital Markets team was led by Adam Mengacci, Managing Director in the firm’s Dallas office. Mengacci secured and structured 80% of the capital stack. The three-year bank loan was provided by Bank United. Dallas-based TriGate Capital provided the preferred equity. Launched in July 2020, YPI seeks to acquire grocery-anchored, lifestyle and neighborhood shopping centers. The acquisition of these two stabilized assets further increases YPI’s DFW presence and allowed them to expand their footprint outside of the DFW MSA. Since inception, YPI has acquired nearly 1 million square feet of retail property throughout Texas. Currently 98% occupied, 380 Towne Crossing in McKinney has an impressive tenant roster and is shadow-anchored by Target and Lowes. Longview Towne Crossing represents a 96% occupied center leased to PetSmart, Five Below, and Old Navy along with shadow anchors, Target and Kohl’s. “Retail fundamentals in Texas are among the strongest in the country, and this financing showcases that both lenders and institutional equity will get aggressive for best-in-class sponsors and centers located within exceptional demographic trade areas,” said Mengacci.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$60,700,000.00

Monthly NOI$404,666.67
Monthly Debt Service$383,665.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00