Location: McAllen, TX
Loan Amount: $9,000,000
Term/Amortization: 10-years / 30-yr AM
Loan to Value: 55%
Purpose: Cash-out refinance for a retail portfolio consisting of 75,359 sq ft located in McAllen, TX. The loan features a fixed 10-year term and non-recourse to the sponsorship.
The Gateway & Taylor plazas are well-occupied and located on the south side of W. Expressway 83 in close proximity to the cities of Mission, Edinburg, and Pharr. The properties have good exposure and access to major thoroughfares, residential communities, and major employment centers.