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MCA Arranges $2.5M Loan for Melrose Duplexes in Arlington

ARLINGTON, TEXAS — Metropolitan Capital Advisors Ltd. (MCA) has arranged a $2.5 million term loan for a contiguous complex of 35 duplexes plus an additional four vacant lots in Arlington. The property is located on Leacrest Street and Melrose Street along New York Avenue. The duplexes are one-story garden style buildings situated on individually platted lots, which were originally built in 1960. An out-of-state buyer purchased the development and is renovating all 35 duplexes. Brandon Wilhite of MCA was responsible for arranging the loan, which included a future funding feature to complete the renovations. Funded by First United Bank, the loan features a 4.5 percent interest rate.

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