The financing is a non-recourse mortgage with a 6.5% interestrate funded by Omni American Credit Union in Fort Worth, ToddMcNeill, senior director of Metropolitan Capital Advisors inDallas, tells GlobeSt.com. He says the loan supported a dissolutionof a single-asset partnership and rolled full title to theDallas-based Options Real Estate, which leased and managed the98%-occupied building at 1801 N. Hampton Road since 1995. The10-year loan, with a 75% loan-to-value ratio, replaced abank-financed seller's note held since 1992 when Options bought outits joint venture partner in class B-plus, 20-year-old officebuilding, according to McNeill.

The biggest obstacle in getting a signed deal was lenders' viewsabout the office market on the Dallas side of the metroplex. "Theperception of the Dallas office market was a challenge to getover," McNeill says, "and to compound that the perception about theSouth Dallas market." The Inwood Bank Building is the largestoffice product in Desoto so there was "nothing for comparison inthe market," he explains.