Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

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



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
Live Chat

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