NorthMarq Capital’s Houston office secures refinance of Beechnut retail property
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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