DALLAS–CBRE Capital Markets' Debt & Structured Finance group in Dallas has arranged financing for Regent Center I & II in Irving. CBRE worked on behalf of Founders Properties LLC to obtain a $13.7 million non-recourse loan. The seven-year, fixed-rate loan was secured through Woodmen of the World Life Insurance Society.
“Given the strong sponsorship, long-term tenancy and stability of cash flow, the deal garnered a solid amount of attention from the lending community,” Greg Greene, senior vice president with CBRE, told GlobeSt.com.
The Regent Center Portfolio consists of two office buildings, totaling 150,625 square feet of rentable space. The buildings are 100 percent leased by Devry University, Pulte Group, Staples Inc., and Aramark Educational Services Inc.
The Regent Center buildings are situated less than a mile west of LBJ Freeway and two miles north of John Carpenter Freeway. The assets are also nearby D/FW International Airport.
Greene, Scott Lewis and Matt Ballard of CBRE's Dallas Debt & Structured Finance group originated and secured the financing on behalf of the borrower.
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