Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MANSFIELD, TX-An $11.8-million construction loan has been secured for Mansfield Towne Crossing, a 118,740-sf retail center planned for the intersection of US Highway 287 and Debbie Lane in a Fort Worth suburb where retail development has headlined the activity for a year. Ground-breaking, though, will come after current lease negotiations present closed deals.

Scott Lynn, principal of Metropolitan Capital Advisors in Dallas arranged the financing through Compass Bank. Lynn tells GlobeSt.com that pre-leasing talks are under way with enough retailers to start the dirt work at more than 60% reserved. The 50-acre project is a joint venture development of Weber & Co. and Today Realty Advisors, both of Dallas.

The Compass Bank financing represents a 75% LTV. It is an 18-month, interest-only loan.

An under-construction SuperTarget will anchor Mansfield Towne Center as will a Home Depot that opened last year. The big news, though Lynn can’t discuss it, is a junior anchor is close to signing on the dotted line. Mansfield has been one of the region’s development hotspots for retail and residential development for a year, with many of the big-name retailers seeking their place in the growing suburb as equally impressive homebuilders push out projects at price tags tailored to the median income.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.