ATC Managers Closes $28 Million Deal to Fund New Retail Center
Texas, November 8, 2024 — ATC Managers has successfully closed a $28 million construction loan to finance a new retail shopping center that is already approximately 40% pre-leased.
The development will feature a modern, 4-star retail complex spanning 104,844 square feet on an 18-acre site. It will offer a combination of single-story and multi-story sections to accommodate various retail formats, with flexible retail units ranging from 1,000 to 10,000 square feet. Space has been allocated for major retailers to attract foot traffic.
The center will provide over 600 parking spaces, including handicap-accessible spots and electric vehicle charging stations. The design includes professionally landscaped green spaces with native plants, seating areas, and walking paths. Additional amenities may include outdoor plazas, seating areas, and possibly a food court or entertainment zone.
The sponsor, William Embry, a commercial real estate developer with more than 25 years of industry experience, has invested significant equity into the project. Under the leadership of Reisman Joel, ATC Managers provided 100% of the remaining construction costs at a competitive rate, including an end-loan option.
"I appreciate the professionalism and efficiency of Joel and the team at ATC Managers,"
said William Embry.
"This transaction was exceptionally smooth, and I look forward to building a long-term partnership with them."
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