SAN ANTONIO-MS Walker & Associates of Bakersfield, CA will break ground in the summer on the 81,960-sf Stone Oak Centre in the northwest submarket. The seven-building project is getting under way with help from a $15.5-million construction loan and $4.92 million of equity.

Stephen Hagerman, assistant vice president of Newport Beach, CA-based Buchanan Street Partners, says the 6.36-acre site along Stone Oak Parkway near Loop 1604 will have five class A office buildings and two retail structures. The mix breaks out to about 15% retail and 85% office. Hagerman and Buchanan senior managing director Thomas Sherlock arranged financing.

Sherlock tells that it wasn’t too difficult to arrange project financing because of its location in northwest submarket and sponsorship. “The area has good fundamentals,” he adds. The fact that MS Walker is doing its own design and construction didn’t hurt matters either, according to Sherlock. “That was part of the sponsor’s efficiency and why the overall deal had merit,” he says.

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