JLL Secures $78M Refi for Texas Shopping Center
- Aug 11, 2017
JLL’s Capital Markets experts secured $78 million in bridge financing on behalf of Levcor Inc. for Pharr Town Center in Pharr, Texas. Goldman Sachs provided the loan, which will be used to refinance an existing construction loan for the 466,950-square-foot retail center.
Highly visible location
The retail asset is located at 600 North Jackson Road, directly off Highway 83 and North Jackson Road, the main thoroughfare in Pharr. Notable tenants at the property include Ross Dress for Less, TJ Maxx, Bealls, Cost Plus World Market, Buy Buy Baby, Cinemark, Main Event Entertainment, Academy Sports + Outdoors, Sears Appliance, Crunch Fitness, Joann’s, Luby’s and Mercer Emergency Clinic.
Executive Managing Directors Tom Melody and Tom Fish, Managing Director Jimmy Board and Associate Jarrod McCabe led the JLL team.
“Capital continues to be available for well-located shopping centers with high-performing, national credit tenants,” said Board, in a prepared statement. “The institutional activity on this deal speaks to the quality of the asset, the continued drive to brick and mortar retail and the sponsorship.”
Image courtesy of JLL