Marcus & Millichap Closes $160M Financing Across US Including Grand Prairie Transaction
3154 State Hwy 161, Grand Prairie, T...
Building Size
—
Asset Type
Retail
Closing
Nov 22, 2023
AI
The property at 3154 State Hwy 161 in Grand Prairie, Texas, is a retail asset with a size of 276,817 square feet. The property is known as Epic West Towne Crossing and is owned by Weber & Co. It received a 10-year fixed-rate loan with a 3.25 percent interest rate.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 3154 State Hwy 161, Grand Prairie, Texas
- Market: Grand Prairie
- Borrower's Rep: Sunny Sajnani(Marcus & Millichap), Todd McNeill(Marcus & Millichap)
- Lender: Unknown life insurance company
Todd McNeill and Sunny Sajnani, senior managing directors at Marcus & Millichap Capital Corporation's Dallas Uptown office, worked with various financial institutions including JP Morgan, Morgan Stanley, Goldman Sachs, and Happy State Bank to arrange the financing. The site is shadow anchored by IKEA and anchored by Burlington, Michaels, and Petco.
Players
Grand Prairie Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93