CBRE Arranges $14.2 Million Construction Loan, Equity for Mixed-Use Project in Metro Houston

by Alex Tostado

Sugar Land, Texas — CBRE has arranged a $14.2 million construction loan and $3.4 million in equity for the development of MARCEL District, a 63,000-square-foot mixed-use project in Sugar Land, a southwestern suburb of Houston. The property, construction of which is underway and expected to last about nine months, will be located within the Cross Creek master-planned development. Jeff Stein of CBRE arranged the construction loan, which carries a floating interest rate, 76 percent loan-to-cost structure and a 25-year amortization schedule, on behalf of The Marcel Group, a private developer based in The Woodlands.

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