DALLAS—Dallas-based VistaPointe Partners hassuccessfully placed the refinance debt for two separate retailassets totaling $6.65 million, GlobeSt.com has exclusivelylearned.
Seth Denison, senior vice president of businessdevelopment for VistaPointe Partners, negotiated both transactionson behalf of the borrowers.
In the first transaction, the existing ownership purchased a15,000 square foot retail asset in Cocoa Beach, FL. Accordingto the new business plan, the owners will retain possession andmanagement of the asset. The CMBS loan was sized to 80 percent ofappraised value and funded in six weeks from term sheet execution,fixed at 4.60 percent for 10 years at $2.65 million.
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