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Avatar Financial Group Arranges $30M Refinancing for Plano Office Park
Seattle-based Avatar Financial Group has provided a $30.4 million loan to refinance CityView Corporate Center, a three-building office park totaling 293,821 square feet in Plano.
The bridge loan will go towards repositioning the three-building office park, which totals 293,821 square feet. The office park includes CityView Corporate Center I at 1309 W. 15th St. and CityView Corporate Center II at 1201 W. 15th St. as well as the 10-story mid-rise also known as North Central Tower at 1255 W. 15th St. The office park also includes 924 parking spaces. Currently, the property is 58% leased to a tenant roster that includes the Mustard Seed Ministry, Third Coast Bank SSB and MD Engineering.
The owner, MoxieBridge, plans to use the financing to implement a capital improvement program which will include upgrades to the park as well as repositioning it by adding common-area amenities.
- ◦Financing
