FORT WORTH AND CORINTH, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged approximately $10 million for two retail projects being developed by Dallas-based Margaux Development Co. MCA secured a $6.91 million interim loan for the predevelopment of Parkwood Shopping Center, a 31-acre retail project located in Fort Worth. Proceeds will be used to retire the existing land acquisition loan, prepare the site for vertical development, and proceed with site work and preparation. Current plans call for Margaux to develop a 212,500-square-foot regional shopping center; tenants already signed on include Academy Sports, NTB Tire & Battery and Aldi’s.
The second loan totals $2.89 million and is secured by a 20.62-acre land parcel located in Corinth. Margaux plans to develop a retail project on the site known as Corinth Marketplace Shopping Center. Proceeds will be used to retire the existing land acquisition loan. Todd McNeill of MCA arranged both of the loans. The lenders and terms of the loans were not disclosed.
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