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NORTH RICHLAND HILLS, TX-The developer of an 80,000-sf medicaloffice building has landed $13.45 million of construction financingto replenish his till after breaking ground nearly four months ago.The office project, which is up for sale, sits at the edge of an85-acre redevelopment site that includes a shuttered mall.
Kest Investments of Los Angeles has secured a two-year,interest-only loan from US Bank for Medical Center at CallawayCreek, rising on about six acres at the corner of North Clovis andSanta Ana avenues. The 90% loan-to-cost financing's interest ratefloats at 160 basis points above Libor with no floor.
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