Linda Leciejewski d/b/a Aflac Insurance leased 2,710 square feet at 17300 N. Dallas Parkway in Dallas, TX. Jack Moravcik with Swearingen represented the tenant, and Caleb Ninemire and Richard Maloof represented the landlord, Hartman Income REIT.

Steven Bell leased 2,239 square feet at 12655 N. Central Expressway in Dallas, TX. Justin Utay with NAI Robert Lynn represented the tenant, and Caleb Ninemire and Richard Maloof represented the landlord, Hartman Income REIT.

Wealth, abundance, prosperity, and substantiality are our ‘gold,’
says Douglas Elliman’s Arthur Greenstein.

We hear about it every day – the interest rate is going up, supply issues, backed-up permit offices, and the pending recession. A lot of what you read might be clickbait, the doom, and gloom that draws our ever-inquisitive attention to the story at hand. The media faces the challenge of keeping readers gripped to the story while being informative about every market and submarket in the country. Writers often must choose between macro and microeconomics to share a more transparent look into what’s going on specifically in our state and even deeper for a more augmented look into our city.

We are not in good shape; WE ARE IN GREAT SHAPE!

According to the US Bureau of Economic Analysis, Texas is the 9th largest economy in the world. We’re the second biggest economy in the U.S., and our exports are higher than New York and California combined. Commercial real estate sales in Dallas Fort Worth are the highest in the country, almost equaling Los Angeles and Atlanta combined.

Texas, and specifically Dallas, is not just in good shape; it’s in great shape! Let’s dive into a few of the main reasons why…

Click to read more at www.dmagazine.com.

Pensam has closed on a $7.6 million preferred equity investment for the recapitalization of The Elise, a 341-unit apartment community located in Dallas, Texas. In connection with the transaction, the sponsor, Windmass Capital, arranged senior financing with a senior mortgage lender and sought out Pensam’s preferred equity solution to provide incremental capital to support the refinancing.

“With the rapid increase in interest rates, proceeds from senior loans have been dramatically compressed, making Pensam’s various capital and lending solutions a vital source of financing for multifamily owners,” said Pensam Head of Capital Markets and Lending Ray Cleeman. “In this transaction, Pensam was able to increase total loan proceeds up to 75% of the capital stack, a significant increase above the senior loan.”

Cleeman also added that, “Pensam has a deep pool of capital ready to deploy for these types of scenarios and are seeing a significant increase in demand for our lending solutions, including both preferred equity and mezzanine loans that go behind other senior lenders including the agencies, commercial banks, life companies and debt funds.”

The Elise was built in 1987 and is located at 1720 John West Road. Renovated units at the property feature granite countertops, new black appliances, subway tile backsplash, faux wood floors, new cabinet faces, upgraded fixtures and hardware, new paint, and resurfaced cabinets. Amenities include a fitness center, resort-style swimming pool, gated access, landscaping, and on-site/on-call maintenance.

Pensam’s investment will support the sponsor’s continuing capital improvements plan to incorporate additional value-add amenities at the property for the enhancement of the resident experience.