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DALLAS-The Austin owner of an 84,000-sf retail center in Dallas has secured a $4.1-million loan to gather capital for acquisitions in his hometown.

Tony Kalantari of Austin Property Management Co. used the Lake Highlands Village at 700 N. Buckner Blvd. to leverage a five-year, floating rate loan with Houston-based Sterling Bank. “He’s building a war chest to buy some deals in Austin,” Brad Donnell, senior director of Metropolitan Capital Advisors in Dallas, tells GlobeSt.com of the borrower’s motivation to place debt against a free and clear asset.

Kalantari acquired the neighborhood center near White Rock Lake in 1997. Since then, he’s taken a 30%-leased plaza and pushed its occupancy to 90%. The White Rock Athletic Club anchors the 17-year-old center on 10 acres, which also houses a two-story office building. Other tenants are Rehab 2112, White Rock Chiropractic and the Shadyside Bar & Grill.

Donnell says the lender’s decision to stamp the deal was mortared by strong sponsorship and Lake Highlands’ demographics. The center sits at the crossroads of Buckner Boulevard and Northcliff Drive in a residential area with little retail competition.

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