CYPRESS EQUITIES SECURES $187M FOR THREE RETAIL PROPERTIES

by admin

DALLAS — Dallas-based Cypress Equities has secured a combined $187 million in loans for three retail properties in North Carolina, South Carolina and Texas. Carlyle/Cypress West 7th, LLP, a partnership with The Carlyle Group and Cypress, secured a $98 million bridge loan through GE Capital Real Estate for West 7th, a 660,865-square-foot mixed-use development in Fort Worth. The mixed-use development includes 254,107 square feet of first floor restaurant space, 103,220 square feet of Class A office space and 345 residential units. Proceeds from the bridge loan are refinancing existing construction loans from eight lenders. The 3-year, adjustable rate loan will go toward paying for future tenant improvement costs and leasing commissions.

You may also like