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