Loan Spurs 81-Acre Texas Buy

Geyer Morris Co., a Dallas-based development group, has obtained a $12.6 million loan to acquire an 81-acre site in Mansfield, TX. Silver Arch Capital Partners secured the financing, which offered two-year, interest-only funding.

The acreage at US 287 and Broad Street is currently vacant, and is entitled for a 500,000-square-foot retail center scheduled for completion in 2018.

“Because of its location, demographics and growth in the market, this property is ideal for a retail center,” said Jeffrey Wolfer, president of Hackensack, NJ-based Silver Arch Capital Partners. “Continued growth in Dallas-Fort Worth has pushed into Mansfield, creating the demographics for new retail. Mansfield is approximately 15 miles southeast of Fort Worth.