Funding was used to acquire 81-acre Texas site targeted for retail development
Hackensack, NJ, April 06, 2016 – Silver Arch Capital Partners has provided a $12.6 million loan secured by an 81-acre development site in Mansfield, Texas, announced Jeffrey Wolfer, president of the Hackensack, NJ-based private lending firm. The borrower, Geyer Morris Co., a Dallas-based development group, was under contract to acquire the site and the two-year interest-only funding was utilized to complete the acquisition.
The site, currently vacant, is situated along well-traveled US-287 and Broad Street in Mansfield, a suburb of Dallas. It is entitled for the development of a 500,000-square-foot retail center, slated for completion in the spring of 2018, and plans for the property include a mix of institutional and nationally-recognized tenants.
“Because of its location, demographics and growth in the market, this property is ideal for a retail center,” said Wolfer. “Continued growth in Dallas-Fort Worth has pushed into Mansfield, creating the demographics for new retail.
“The potential of this proposed retail project is obvious and, as such, this lending opportunity falls into the scope of our primary focus,” said Wolfer. “That focus is to provide bridge financing to developers and owners with a vision, offering funding outside the scope of traditional sources.”
Silver Arch Capital Partners is a leading nationwide private lender to the commercial real estate market, specializing in bridge loans to owners, investors and developers in need of funding outside the scope of traditional banks and lenders. Formed with the mission to assemble the most highly creative minds in real estate lending under a single banner, the firm recognizes the importance of access to capital in turbulent times. Its partners, who have closed over $2 billion in loans, have the knowledge and insight to guide a borrower through the entire loan process, from initial review through closing.
Drawing from various resources, Silver Arch Capital Partners offers loans from $1 million to $50 million with the flexibility and creativity to review projects of every type — multifamily, office, retail, industrial, hotel and land — and to offer funding for almost every purpose — restructurings, discounted payoffs, purchase of notes and property improvements.