Todd McNeill, MCA senior director, was responsible for arranging the financing on behalf of International Town East Tower LP. He says the transaction was made difficult because of banks' continued unwillingness to provide financing on commercial real estate.

"The asset was extremely stable from a historical cash flow perspective and has never had any occupancy issues since my borrower had owned the property 10-plus years," McNeill tells GlobeSt.com. MCA contacted at least 50 lenders before finding one that was palatable to its client and had sufficient loan capacity for a commercial property, he says.

Town East Tower, which opened in 1970, is located near the intersection of Lyndon B. Johnson Parkway and Interstate 30 near Town East Mall. Access to the 90,000-square-foot glass building, which is 95% leased, was substantially improved with the recent completion of new ramps along the LBJ and I-30.