DealPoint Merrill Secures Bridge Financing for Redevelopment in Five States
LOS ANGELES, CA — June 19, 2018 / PRNewswire / — DealPoint Merrill has secured bridge financing for the redevelopment phase of projects in Benbrook, Texas, Columbus, Ohio, St. Charles, Missouri, Chandler, Arizona and Saginaw, Michigan. Collectively the five properties represent nearly 600,000 square feet. After the construction phase was completed and lease up was underway, DealPoint Merrill secured long-term financing for final stabilization.
DealPoint Merrill worked with Cronheim Mortgage to secure approximately $27,000,000 of financing across the five properties.
DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, President, handled the due diligence for the sale. The acquisition was completed by Jason Limbert of DealPoint Merrill.