November 17, 2016
CBRE Capital Markets’ Debt & Structured Finance team arranged $17.5 million in financing to commence development on the 231,180-square-foot Brushy Creek Corporate Center in Cedar Park, TX. The facility, on which developer IGX Brushy Creek LLC will break ground on next week, will be a two-building, speculative office and industrial development at Brushy Creek Boulevard and BMC Drive.
The finance package consists of $13.6 million in acquisition and development financing, and $3.9 million in equity for the project. Mike Landon of CBRE’s Dallas office, and David Aaronson of CBRE’s Houston office facilitated the loan. Equity was provided by ANICO Eagle LLC, a joint venture partner in the development. Aquila Commercial is handling leasing.
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