GRANDBRIDGE CLOSES $5.3M LOAN FOR 22,000 SF RETAIL CENTER
CINCO RANCH — Grandbridge Real Estate Capital's Houston office has closed a $5.3 million first mortgage loan for a 22,400-square-foot retail center in Cinco Ranch, near Katy. The property is 100 percent leased to tenants such as First Community Bank, FedEx Kinko's, Mooyah Burgers & Fries and Potbelly Sandwich. The loan was secured by Arcadia and funded through Grandbridge's CMBS relationship with Morgan Stanley. The non-recourse, fixed-rate loan features a 10-year term and a 25-year amortization and a 75 percent loan-to-value rate. The retail property is owned by HRC Partners Ranch, Ltd., and Excel Commercial Real Estate and New Regional Planning partnership.