News

Kroger-Anchored Retail Center Financed in Sugarland, Texas

Q10 KDH Vice President, Ryan Watson provided acquisition financing for Fort Bend Center in Sugarland, Texas for the Dhanani Private Equity Group. The property is a Kroger-anchored retail center that covers over 42,000 SF of space. The CMBS Lender achieved a loan for 75% of the purchase price and 30 year amortization on a non-recourse basis. The loan closed at a 5.05% rate with 10 years, fixed-rate financing.

“The Dhanani Private Investor Group was able to see the long-term value in the center given the expansion occurring in the city of Sugar Land, Texas. Many of the tenants have been in the center for over a decade and have realized the growth of the area. Q10 KDH was able to provide the acquisition financing needed for the project and execute a smooth closing processes with a CMBS lender with no surprises.” – Ryan Watson