Texas Retail Portfolio

Location: San Antonio, Midland, and Odessa, TX
Type: Retail
Price: $29,500,000

SMC provided a $29,500,000 senior loan to refinance the existing CMBS debt on a portfolio consisting of 6 retail centers totaling 241,778 nrsf, located in San Antonio, Midland, and Odessa, TX. The portfolio occupancy was 95.2% at time of close and leased to 61 national, regional, and local tenants. Notable tenants include Bealls, Rue 21, Starbucks, Buffalo Wild Wings, Cold Stone Creamery, Dollar Tree, and Papa Johns. The capital stack also included $3,325,000 of preferred equity provided by Realty Mogul.