The borrower, Vineyard Marketplace LP, is a joint venture assembled by Dallas-based Cencor Realty Services Inc. The Winn Dixie-anchored center was developed in 1999 with subsequent phases delivering through 2001. The 95%-occupied center is positioned on 13.42 acres. Other tenants include Washington Mutual, Hallmark and H&R Block.
MidFirst Bank of Oklahoma City is providing a 10-year loan at a 25-year amortization for a fixed-rate that is being kept confidential. Andy Scott, associate director of Holliday Fenoglio Fowler LP's Dallas office, tells GlobeSt.com that MidFirst has "an interest in doing this kind of deal in Texas." He says the bank was particularly impressed with the JV's "quality sponsorship."
Scott and Dan Bryson, Holliday's managing director, arranged the transaction, which took the JV from a construction loan to permanent financing. The two-building retail center is positioned at the northeast corner of Glade Road and Texas 121.
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