Could Downtown Apartment Development Max Out in North Texas and Other Major Markets?

As featured in the November Newsletter from Bisnow.com There are 9,000 multifamily units in the pipeline in Downtown and Uptown, but skyrocketing land prices, rising Read more

Metropolitan Capital Advisors Closes A $10,950,000 Permanent Fixed Rate Mortgage For A Retail Shopping Center In Greeley, Colorado

Dallas, Texas-based Metropolitan Capital Advisors (MCA), a financial intermediary specializing in the exclusive representation of investors, developers and property owners in the commercial real Read more

Metropolitan Capital Advisors Exhibiting at International Council of Shopping Centers Texas Conference, Nov. 12 - 14, Booth 771

See the Metropolitan Capital Advisors Team at Booth #771If you are in the commercial real estate industry, you've most likely heard of or attended Read more

The Urban Renter: Who Art Thou?

By: Scott Lynn One trip down the tollway to Uptown/Downtown Dallas leaves me in utter amazement at the amount and quality of high-density multifamily projects Read more

Development Is As Hot As the Texas Heat

By Gabe Gonzalez It seems like construction cranes are part of everyone’s skyline these days.  Even secondary markets such as Waco, Lubbock, and El Paso Read more

The Local Bank vs. CMBS Boxing Match, Special Texas Edition

By Justin Laub             On one side of the ring we have your Local Banker from Texas. He’s wearing a polo shirt from the country club Read more

Metropolitan Capital Advisors Closes $5,560,000 Construction Loan For Speculative Industrial Project In Oklahoma City, OK

Dallas, Texas-based Metropolitan Capital Advisors (MCA), a financial intermediary specializing in the exclusive representation of investors, developers, and property owners in the commercial real Read more

Thank the FDIC, OCC, and FINRA for Residential Increases Bringing CRE With it!

by Todd McNeill The rebound in home prices in the Dallas / Ft. Worth residential market has been record-setting during the last three years.  I Read more

MCA Closes Two Single-Tenant Government Office Loans Totaling $19,900,000 in Oklahoma

Metropolitan Capital Advisors, Ltd. (MCA) has closed long-term debt financing for two separate office buildings leased to government service tenants. Lincoln Plaza, a 154,085 SF Read more

The CMBS Market is on FIRE!

By Sunny Sajnani, Senior Director The CMBS credit market is vital for the commercial real estate industry, providing leverage on assets that typically banks or Read more

Basel III: What Is This, and Why Do I Care?

By Kevan McCormack So maybe you have heard about this thing called Basel III, and maybe you haven’t.  For those of you wondering what Basel Read more

GSA Leases – Lucrative but Risky?

By Sunny Sajnani, Senior Director The General Services Administration (GSA) is probably the largest tenant in the United States, providing space for more than 400 Read more

The Main Drivers of the Single Tenant "Build-to-Suit" (BTS) Fever.....

by Gabe Gonzalez The single tenant Build-to-Suit (BTS) market continues to be one of fastest growing sectors in terms of development, acquisition, and financing activity.  Read more

Development Cycle Already?

by Hook Harmeling It does not seem that we have been out of the Great Recession for all that long. If you blinked, you probably Read more

Preferred Equity – What the Heck Is It?

by Charley Babb We were recently engaged by clients to help monetize some of their trapped equity in an appreciating asset on which they had Read more

Credit Tenant Lease (“CTL”) Financing

By Brandon Wilhite At Metropolitan Capital Advisors (“MCA”), our clients’ financing requirements range from conservative low-leverage to more aggressive high-leverage and everything in between.  Due Read more

Seeing into the Future of Commercial Real Estate Interest Rates

By: Justin Laub                 You’ve come to the right place, folks. I’m going to give you exactly what you’ve been asking for. I’m going to Read more

REIT’s Are Upgrading and Entrepreneurs Are Reaping the Benefits

by Todd McNeill In the last 24 months the REIT’s have been busy adjusting their portfolios.  During the depths of the recession, REIT’s had access Read more

Variety (in Commercial Real Estate) is the Spice of Life

by Scott Lynn Four years ago, at the height of the Great Recession, a commercial real estate financier would have been hard-pressed to find a Read more

Using a Tax Equity Partnership Structure in Real Estate Development

A powerful tool for real estate developers is tax optimization. However, without a proper understanding of tax incentives, these benefits may not be utilized Read more

The Nuances of Underwriting Retail Real Estate

By Brandon Wilhite Every commercial property type has its own unique set of underwriting and investment criteria. While some of those criteria are common to Read more

Hospitality Financing in 2014

by Charley Babb The cold, harsh winter weather that has covered the country has finally begun to subside, and the hope of spring is on Read more

Senior Housing: Don’t Stop Till You Get Enough

By Kevan McCormack The Senior Housing Industry has been on a tear the last several years and shows no signs of slowing down.  The senior Read more

Chasing the Texas Oil Patch

By Brandon Miller Exploration and drilling are in full swing these days in the oil fields of the Permian Basin of West Texas and the Read more

Non-Recourse Construction Loans

By: Justin Laub “What’s the difference between Santa Claus and a non-recourse construction loan?” The answer: the non-recourse construction loan actually exists. That certainly wasn’t Read more

Could Downtown Apartment Development Max Out in North Texas and Other Major Markets?

As featured in the November Newsletter from Bisnow.com

There are 9,000 multifamily units in the pipeline in Downtown and Uptown, but skyrocketing land prices, rising construction costs and limited municipal incentives remaining could stifle future developments, says Metropolitan Capital Advisors founder Scott Lynn (second from the right, with colleagues Justin Laub, Brandon Wilhite, Todd McNeill and Sunny Sajnani last month). Scott tells us many projects underway are large, complex deals (which create barriers to entry). An example is the $170M redevelopment of 1401 Elm Street Tower in Downtown (rebranded as The Olympic). The 1960s-era 1.5M SF project received more than $50M in economic incentives from the City of Dallas for redevelopment into 500 Class-A apartments, along with commercial retail space. MCA served as the project finance advisor, and it should deliver in late 2016.Dallas downtown CRE stats

About one-third of the 27,000 new apartment deliveries across DFW are in the Uptown, Downtown and surrounding infill areas (where rents average $1,800 to $2,000/unit), Scott tells us. These new projects tend to be substantially pre-leased, often in excess of 30% with monthly absorption rates often double that of traditional suburban product. The products are being absorbed almost as quickly as they can be delivered, Scott says. There’s another upside: plenty of other development opportunities in the infill submarkets such as retail, storage, medical, hospitality and service space, Scott tells us.

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Metropolitan Capital Advisors Closes A $10,950,000 Permanent Fixed Rate Mortgage For A Retail Shopping Center In Greeley, Colorado

Dallas, Texas-based Metropolitan Capital Advisors (MCA), a financial intermediary specializing in the exclusive representation of investors, developers and property owners in the commercial real estate capital markets, has successfully secured a permanent mortgage for the refinance of Elk Lakes Shopping Center—an existing 95,421 SF retail shopping center located in Greeley, Colorado (suburb of Denver).

The Property, situated on 11.47 acres and shadow-anchored by Home Depot, was built in 2000 and is currently 96% leased to various national and regional tenants including PetSmart, Office Depot, Car Toys, Vitamin Cottage and The Institute of Business & Medical Careers.  The Property is controlled by Rainier Asset Management Company (“Sponsorship”)—a subsidiary of Dallas-based Rainer Capital Management.

permanent fixed rate mortgage

95,421 SF retail shopping center located in Greeley, Colorado

The financing assignment came with several obstacles that had to be overcome prior to closing.  The ownership was previously structured as a Tenant-In-Common (“TIC”) which made the Property very difficult to finance in today’s credit environment.  MCA assisted the Sponsorship in “rolling up” the TICs and converting the ownership into a single purpose LLC.  Additionally, a co-tenancy default existed that had to be cured with the cooperation of the tenants, landlord and lender.

The $10,950,000 non-recourse CMBS loan has a fixed interest rate for 10 years at 4.55% on a 30-year amortization schedule with the first two years Interest Only.  MCA Senior Director, Sunny Sajnani was responsible for structuring the transaction.

Since 1992, Metropolitan Capital Advisors has closed in excess of $10 billion of debt and equity transactions. National Real Estate Investor Magazine has consistently ranked MCA as one of the top CRE Financial Intermediaries in the US.   MCA has already completed over $500,000,000 of commercial real estate financing during 2014.

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Metropolitan Capital Advisors Exhibiting at International Council of Shopping Centers Texas Conference, Nov. 12 – 14, Booth 771

ICSC Texas 2014 November
See the Metropolitan Capital Advisors Team at Booth #771

If you are in the commercial real estate industry, you’ve most likely heard of or attended a regional or national International Council of Shopping Centers (ICSC) Conference. As Metropolitan Capital Advisors is headquartered in Dallas, a market that is strong at present along with the rest of North Texas and Texas in general, we are fortunate to exhibit at booth #771 and connect with our customers, lenders, and network to start new relationships with brokers and retail representatives from some of the top companies in the world.

The event draws thousands of developers, EDC’s and retailers each year and is the regional version of the huge ICSC conference in Las Vegas each May. You can learn more about the conference by viewing the brochure. The 3 day event is packed with speakers, networking opportunities, and many educational sessions.

You can come and speak with our team at our ICSC 2014 Booth #771 during the show.

About Metropolitan Capital Advisors

Since 1992, Metropolitan Capital Advisors has specialized in arranging debt and equity capital for commercial real estate on behalf of developers, investors and owners. Our firm is committed to the exclusive representation of our clients as a financial intermediary, clearly positioned to provide you with unbiased recommendations and solutions. As your focused representative, we will seek out the most cost-effective capital structure regardless of transaction size or complexity.

About ICSC

The purpose of The International Council of Shopping Centers (ICSC) is to advance the shopping center industry and to promote its role in the commercial distribution of consumer goods and services by:

  • Providing educational programs and publications in all aspects of shopping center development, finance, management, marketing and other specialized areas of professional interest;
  • Conducting meetings and other programs designed to promote the exchange of ideas among members and to facilitate the conduct of their business;
  • Collecting and disseminating information pertaining to the shopping center industry, including statistical data and other statistical research;
  • Developing and maintaining professional certification programs to encourage high standards for shopping center professionals;
  • Advocating the interest of the shopping center industry to local, state/provincial, federal and international governmental bodies; and
  • Publicizing to the general public promotional and educational shopping center business information.

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