Metropolitan Capital Advisors, Ltd. has arranged two (2) Acquisition Loans for the acquisition of the historic Behrens Lofts apartment building along with an adjacent 15,000 square foot commercial building located on the corner of South 4th Street and Mary Avenue in the center of Downtown Waco, Texas.

Upon acquisition, the Sponsor, Waco-based investor and developer Bill Wetterman, will convert the 57- unit apartment building into individual condominium units which will be marketed for sale. Additionally, Mr. Wetterman will complete the renovation of the adjacent building located at 217 S 4th Street, which the ground floor space has been leased to the Fabled Bookshop and Café and the upstairs space will be marketed to office tenants.

Brandon Wilhite, Senior Director at MCA, was responsible for arranging the $6,510,000 Acquisition Loan on the Behrens Lofts with National United Bank and the $2,518,000 Acquisition and Development Loan on the adjacent building with TFNB.

Since 1992, Metropolitan Capital Advisors has closed in excess of $14.0 billion of debt and equity transactions. National Real Estate Investor Magazine has consistently ranked MCA as one of the top CRE Financial Intermediaries in the US. MCA completed over $850,000,000 of commercial real estate financings during 2018.