Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $8,643,000 in financing for the acquisition of Renaissance Square, a retail center located at 2700 Renaissance Square in Fort Worth, Texas.
Robert Bhat, senior managing director, capital markets, based out of MMCC’s Miami office secured the financing and Philip Levy, executive managing director, investments, based out of Marcus & Millichap’s Dallas office represented the seller.
“Renaissance Square is a stabilized, multi-tenant community retail center strategically located in a densely populated area of Fort Worth, Texas that has been undergoing urban renewal over the last few years,” said Bhat.“Given the long-term leases and strong borrower experience, we were able to source competitive loan terms including an interest rate of 6.75% with 6 months interest only and a 30-year amortization.”
The property was built in 2013 and is fully occupied by major tenants including Marshall’s, Ross Dress for Less and Dollar Tree.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2022, MMCC closed 2,143 transactions totaling $12.82 billion. To learn more, please visit: marcusmillichap.com/financing.
