NorthMarq Capital’s Houston office arranges $28.845 million acquisition financing for The Crossings of Spring Hill in Spring Hill, Tennessee
HOUSTON (December 7, 2016) – Chad Owens, vice president of NorthMarq Capital’s Houston-based regional office arranged acquisition financing of $24.845 million for The Crossings of Spring Hill, a 219,905 sq. ft. retail property located at 1001-1041 Crossing Boulevard and 1017-2020 Crossing Circle in Spring Hill, Tennessee. The transaction was structured with a 10-year term with 3-years of interest only on a 30-year amortization schedule. NorthMarq arranged financing for the borrower, TCSH, LLC (an entity controlled by Azad Commercial Realty Services) through its relationship with a CMBS lender. “We have found great values in the growing suburbs of strong MSAs throughout the southeast; we will continue to be an active buyer for these deals,” said the borrower’s sponsor, Dr. Hardam S. Azad.
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