Levcor Inc. Secures $68M Loan For Marq*E Entertainment Center In Houston
FINANCED
$68,000,000
Texas
See Similar DealsRetail
Financed 06/26/2019
FINANCED
Levcor Inc. Secures $68M Loan For Marq*E Entertainment Center In Houston
7620 Katy Fwy, Houston, TX, 77024
See Similar DealsRetail
Financed 06/26/2019
Summary
TEXAS
Asset Type:Retail
Transaction Type:Loan
The Marq*E Entertainment Center in Houston, Texas has received a loan for refinancing. The entertainment venue, housing various restaurants, bars, and entertainment concepts including Dave & Buster’s and Edwards Cinema, was originally developed in 2003. Levcor Inc. purchased the center in 2014 when it was 94 percent occupied.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $68,000,000.00
- Address: 7620 Katy Fwy, Houston, TX, 77024
- Market: Houston
- Borrower's Reps: Tom Fish(Walker & Dunlop), Tom Melody(Walker & Dunlop), Wes Wallace(Walker & Dunlop)
- Lender: LoanCore Capital
Jimmy Board and JLL were also involved in the debt placement for Levcor Inc. LoanCore provided a nonrecourse, floating-rate loan, with a portion of the funds allocated towards property improvements.
Players
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$68,000,000.00
Monthly NOI$453,333.33
Monthly Debt Service$429,806.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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