Dallas, TX, May 23, 2019 --(PR.com
)-- Locus Park Capital has secured a $3 million refinancing for a net-leased CVS pharmacy in Dallas. The five-year loan features a fixed rate of 4.95 percent and a 30-year amortization schedule. The lender was a local community bank. Locust Park’s president Kenneth Lee arranged the loan on behalf of the undisclosed borrower.
According to Mr. Lee, the Dallas market continues to be a safe haven for commercial landlords and lenders alike. "The Dallas market has a few great things going for it. Compared to other major cities, it is a low cost market and you have great credit tenants and quality facilities to accommodate them. Many of our clients are hungry for more of Dallas because they can get decent returns from day-one and the outlook remains increasingly positive."
Locust Park Capital is a real estate investment banking and capital advisory business headquartered in New York, NY. Founded in 2018 by accomplished principals with over 30 years of combined experience, the company specializes in arranging sponsor equity and debt financing for developers, funds, and family offices both domestically and in Europe.