Financing Deals Clear Decks for Plano, Ft. Worth Sales

DALLAS-The Dallas-Ft. Worth region draws two sales, one a class A office project in Plano and the other, a leading retail center in Ft. Worth. Houston-based L.J. Melody & Co. teams in Chicago and Dallas handled the financing packages.

In Plano, the brokers put together a package for more than $22.3 million for an unidentified buyer of the 350,000-sf Preston Park South. Randy Fliesher of Dallas and Keith Huizinga and John Clifford, both of Chicago, structured the deal with a floating rate. Aegon USA, a correspondent life company lender of L.J. Melody, provided the financing. Preston Park South is a two-building project with a four-level parking garage.Fleisher also pieced together financing with Salomon Smith Barney for the 406,342-sf Ridgmar Town Square, one of Tarrant County’s largest shopping centers. Dallas-based Retail Plazas Inc. bought the center from Reliance Insurance, headquartered in New York City. Terms of the deal, which closed about two weeks ago, are being kept under wraps.