NorthMarq Capital’s Houston office secures refinance of Beechnut retail property
Beechnut Tiendas
HOUSTON (November 9, 2016) – Warren Hitchcock, vice president of NorthMarq Capital’s Houston-based regional office, arranged refinancing for Beechnut Tiendas, an 18,995 sq. ft. retail property in Houston, Texas. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Pollo Campero, Supermercado Teloloapan, T-Mobile and Shipley Do-Nuts represent the property’s tenants. “This was a refinance of a construction loan for newly constructed strip retail, with a diverse tenant base,” said Hitchcock. “The property is 100 percent leased, and is located along a major thoroughfare with access to major highways. The loan is non-recourse, fixed rate for 15 years.”
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
