FINANCED
Marcus & Millichap Secures $8.6M Loan For Renaissance Square Retail Center In Fort Worth, Texas
2700 Renaissance Square
Retail
Financed 166 days ago
Summary
Loan
TEXAS
Retail
Renaissance Square, a retail center located at 2700 Renaissance Square in Fort Worth, Texas, was recently acquired with the help of Marcus & Millichap Capital Corporation (MMCC). The acquisition was made possible through an $8,643,000 acquisition loan. The loan terms included 6 months of interest-only payments and a 30-year amortization schedule.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,643,000
- Address: 2700 Renaissance Square, Fort Worth, Texas
- Market: Fort Worth
Philip Levy and Robert Bhat, both from Marcus & Millichap, played a crucial role in securing the financing for this acquisition. With competitive loan terms, such as a 6.75% interest rate, the deal was successfully completed. The loan allowed for 6 months of interest-only payments, providing the buyers enough time to establish the retail center's performance. Additionally, the loan had a 30-year amortization schedule, ensuring long-term affordability.
Players
All
3
Agents
2
Agencies
1
Details
FINANCED
IMAGE: Philip Levy & Robert Bhat
DATE: 12/08/2023
ADDRESS: 2700 Renaissance Square
MARKET: Fort Worth
ASSET TYPE: Retail
BROKERS: Philip Levy & Robert Bhat (@_Bhat__) - Marcus & Millichap (@MarcusMillichap_Houston)
LOAN AMOUNT: $8,643,000
LOAN TYPE: Acquisition Loan
LOAN TERMS: 6 months interest only and a 30-year amortization
NOTE: Marcus & Millichap Capital Corporation (MMCC) secured $8,643,000 in financing for the acquisition of Renaissance Square, a retail center in Fort Worth, Texas. The deal, arranged by Robert Bhat, featured competitive loan terms, including a 6.75% interest rate, 6 months interest only, and a 30-year amortization.View on map
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Address2700 Renaissance Square
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