BWE, a national commercial and multifamily mortgage banking company, announced today it has secured $36,000,000 to refinance the Crossroads at Terrell, a shopping center in Terrell, TX, part of the Dallas metropolitan area.
Matt Good, senior vice president in BWE’s Greenville, SC office, originated the loan on behalf of the borrower, a national retail developer, from a life insurance company lender. The fixed rate loan features an attractive prepayment structure providing the borrower with exceptional flexibility.
“We worked closely with our client and the lender to navigate the complex tenancy requirements that come with seven anchor tenants and over 25 shop tenants. By making use of Terrell’s strong market demographics and tenant sales, we were able to find a financing solution that satisfied the lender and achieved the client’s business plan,” said Good. “BWE continues to approach complicated financing challenges with creativity and diligence, leveraging our comprehensive suite of capital solutions to deliver the best results for our partners.”
Spanning 260,877 square feet, the Crossroads at Terrell is anchored by robust retailers including Hobby Lobby, Academy Sports, Marshall’s, Burke’s Outlet, and Petco. Completed between 2022 and 2024, the property is directly adjacent to major area highways and interstates, making it convenient for both locals and others from outside the area to access. Crossroads at Terrell is part of an ongoing mixed-use development that will feature thousands of housing units and a conference center.
Located 32 miles east of Dallas, Terrell is part of Kaufman County, which was named the fastest-growing county in Texas and the second fastest-growing county in the country this year.