Retail

NorthMarq Capital arranged $18.25 million mortgage for Chapel Hill Shopping Center in Fort Worth, Texas

DALLAS (April 25, 2013) – Phillip Bankhead, vice president of NorthMarq’s Dallas regional office, arranged first mortgage refinancing of $18.25 million for Chapel Hill Shopping Center, a 200,000 sq. ft. retail center located at I-30 and Hulen Street in Fort Worth, Texas. HEB Central Market, Container Store, and World Market are major tenants at the site. Financing was based on a 10-year interest-only term and was arranged for the borrower by NorthMarq through its relationship with a CMBS lender. “The property is on an unsubordinated ground lease, but because of the quality of improvements and low leverage, the loan was aggressively competed for by both Life Insurance Company and CMBS lenders in terms of interest rate and interest only structure,” said Bankhead. “We had some challenges at the end of the process, but the lender found an acceptable way to structure around the risk and delivered a great financing.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.