IPA Arranges $113.7M in Acquisition Financing for Fort Worth Retail Portfolio

by Taylor Williams

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $113.7 million in acquisition financing for Presidio Junction, a portfolio of three contiguous retail centers totaling approximately 375,000 square feet in Fort Worth. The financing comprises life insurance debt and preferred equity. The centers — Presidio Towne Crossing, Tehama Towne Crossing and Vista Ridge — were fully leased at the time of the loan closing to tenants including T.J. Maxx, HomeGoods, Aldi, Petco, Old Navy, Sephora and Five Below. Adam Mengacci led the IPA team that arranged the financing on behalf of the borrower, Younger Partners Investments. The names of the direct lender and equity partner(s) were not disclosed.

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