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MCA ARRANGES $28.9 MILLION FOR RIVERWALK CROSSING

Posted on by in Retail, Texas

TULSA, OKLA. — Dallas-based Metropolitan Capital Advisors (MCA) has arranged $28.9 million in financing for Riverwalk Crossing Shopping Center, a 250,000-square-foot lifestyle center located on the banks of the Arkansas River in south Tulsa. MCA secured a $17.5 million first mortgage and a $1 million mezzanine loan for Phase I of the project, which is 98 percent leased. Additionally, MCA secured a $10.4 million interim construction loan for Phase II of the project. The phase will total 50,000 square feet and is expected to be complete within 12 months. It is already fully pre-leased to Lewis & Clark and McDermott’s Grill. The lender for the mezzanine loan was a private investor, and the lender for the first mortgage and construction loans was a Texas regional bank. The borrower was Jerry R. Gordon Development.

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