Locust Park Capital Secures $3M Refinancing of CVS Pharmacy in Dallas, TX
NEW YORK - May 21, 2019 - eTradeWire -- Locus Park Capital has secured a $3 million refinancing for a net-leased CVS pharmacy in Dallas. The five-year loan features a fixed rate of 4.95 percent and a 30-year amortization schedule. The lender was a local community bank. Locust Park's Kenneth Lee arranged the loan on behalf of the undisclosed borrower.
According to Mr. Lee, the Dallas market continues to be a safe haven for commercial landlords and lenders alike. "The Dallas market has a few great things going for it. Compared to other major cities, it is a low cost market and you have great credit tenants and quality facilities to accommodate them. Many of our clients are hungry for more of Dallas because they can get decent returns from day-one and the outlook remains increasingly positive."