$36M Loan Secured By Matt Good Of Bellwether Enterprise To Refinance 260,877-SF Retail Center In Terrell
690 American Way
$36,000,000
$138/SF
Building Size
260,877 SF
Asset Type
Retail
Closing
Sep 23, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 580-690 American Way in Terrell. The property encompasses a total square footage of 260,877 and was constructed between the years 2022 to 2024. It is anchored by retailers such as Hobby Lobby, Academy Sports, Marshalls, Burke’s Outlet, and Petco.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $36,000,000
- Loan Type: Refinance
- Broker: Matt Good - Bellwether Enterprise (BWE)
- Market: Terrell
- Asset Square Footage: 260,877
Matt Good of Bellwether Enterprise arranged the loan through a life insurance company, facilitating the refinance of the shopping center known as Crossroads at Terrell.
Players
Terrell 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93