CROWLEY, TX-Dallas-based Margaux Development has sold the Kroger-anchored Stone Gate Plaza in Tarrant County to Three Rivers Holding LLC of Chicago. The buyer, banking its first deed in North Texas, has bed down the deal with a $7.7-million loan at 60% leverage.

The 90,643-sf Stone Gate Plaza, a 99%-leased project on 10.2 acres at 1044 S. Crowley Rd., changed hands in a 45-day cycle, according to Todd McNeill, senior director of Metropolitan Capital Advisors Ltd. in Dallas. “It’s such a class A project that it wasn’t very hard to sell,” he adds.

McNeill and Margaux’s founder Don Silverman worked the sale on their own although it’s not part of Metropolitan’s usual service line-up. “This was very unusual for us to do,” McNeill tells “We were facilitating for a very, very good client.”

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