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| Office Portfolio Refinance |
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| Transaction Size: |
$12,250,000 |
| Property Description: |
3 office properties totaling 66,000 square feet in Atlanta, Georgia |
| Transaction Overview: |
MCP refinanced the property and allowed the borrower to take out over $2,000,000 in cash out proceeds. |
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| Sale of Virigina Office Property |
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| Transaction Size: |
$5,900,000 |
| Property Description: |
29,231 square foot, two story office building, located in Charlottesville, Virginia |
| Transaction Overview: |
MCP sold the property to the University of Virgina (UVA is the property tenant) for over $200 per foot at a 5.2% capitalization rate. |
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| Grocery Anchored Retail Center Acquisition |
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| Transaction Size: |
$27,300,000 |
| Property Description: |
93,000 square foot newly constructed neighborhood shopping center |
| Transaction Overview: |
MCP structured the acquisition of a Las Vegas based shopping center, that includes grocery, banking, restaurant and shopping components. The buyer, a Dallas based investment company, continues to seek newly developed Class "A" retail and office properties nationwide. |
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| Industrial Portfolio Refinance |
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| Transaction Size: |
$9,250,000 |
| Property Description: |
5 Class "B" industrial properties in New Hampshire |
| Financing Description: |
Proceeds represent a 75% Loan to Value of the 5 cross collateralized properties, 110 basis points over the 10 year Treasury, fixed for 10 years and non recourse to the borrower. |
| Transaction Overview: |
MCP structured a rate lock (both the 10 year Treasury and spread) at the time of signing to negate interest rate risk while processing the transaction. Despite growing concerns in the CMBS market, the loan was closed as applied for. | | |
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| Office Portfolio Acquisition Finance |
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| Transaction Size: |
$31,980,000 |
| Property Description: |
Two class "A" office properties in downtown Boston, MA |
| Financing Description: |
The proceeds represent a maximum 80% loan to appraised value at 190 over LIBOR for a 36 month term. The loan was made non-recourse to the borrower except for standard carve-outs. |
| Transaction Overview: |
MCP structured an initial $30,160,000 funding with a borrower's capital improvement budget of $1,820,000 in additional loan proceeds. The budget provides for all capital improvements, tenant improvements and leasing commissions associated with the acquisition of the office properties. |
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| Multifamily Acquisition |
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| Transaction Size: |
$32,900,000 |
| Property Description: |
300+ unit class "A" multifamily property located outside of Fort Worth, TX |
| Transaction Overview: |
MCP brought a developer and accountant firm together for an "off market" sale of the property and a quick close. MCP helped facilitate some closing hurdles including ground lease discrepancies and property tax issues. |
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| Multifamily Acquisition |
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| Transaction Size: |
$33,600,000 |
| Property Description: |
400+ unit class "A" multifamily property located in Dallas, TX |
| Transaction Overview: |
The "off market" property was acquired for a wealthy family engaged in a 1031 exchange. |
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| Hotel Permanent Take Out Loan |
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| Transaction Size: |
$26,500,000 |
| Property Description: |
160 Room Hotel located in Southern California |
| Financing Description: |
70% Loan to Value, 125 bps over the 10 year Treasury fixed for 10 years, 4 years interest only |
| Transaction Overview: |
The loan was made on projected revenues, set to fund the day the hotel opens for business. |
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Multifamily Acquisition Loan |
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| Transaction Size: |
$27,500,000 first + $6,000,000 mezzanine piece |
| Property Description: |
392 unit garden style apartment building located in Dallas, TX |
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| Financing Description: |
100 bps over the 10 year Treasury, 10 years interest only, 75% LTV |
| Mezzanine Financing Description: |
350 basis points over the 1 Month LIBOR, 90 day term with 90 day extension, 15% LTV |
| Transaction Overview: |
The mezzanine piece allowed the client to close on time, while syndicating the remaining equity post closing through their investor network. | | |
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| Bulk Rate Lock |
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| Transaction Size: |
$75,000,000 |
| Financing Description: |
12 month rate lock structured for investment group in Southern California (locked at a 4.49% Treasury) |
| Transaction Overview: |
The rate lock allows the group to fund any of their acquisitions/refinances over a one year period using the locked Treasury. | | |
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