Retail (MT)
Debt & Equity

NorthMarq Capital’s Atlanta office finalizes $4.9 million refinance of West Hills Plaza in Birmingham, Alabama

ATLANTA (November 11, 2016) – Will James, vice president of NorthMarq Capital’s Atlanta-based regional office, arranged the $4.9 million refinance of West Hills Plaza, a 103,500 sq. ft. retail property located at Bessemer Highway at Weibel Drive in Birmingham, Alabama. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. Tenants on the property include: Save-a-Lot, Cato, Citi Trends, Shoe Show, Compass Bank and T-Mobile. “The closing of an eight year old Super Walmart nearby initially was a concern for the property,” said James, “but the performance of the tenants and new leasing proved the location was solid. The property will remain a CMBS securitized asset for a third decade.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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West Hills Plaza
Permanent Loan - Fixed
$4,900,000