Northmarq negotiates $1,247,000 in acquisition financing for Family Dollar/Dollar Tree in Spearman, Texas
CINCINNATI, OHIO (May 18, 2022) - Noah Juran, managing director of Northmarq's Cincinnati office, secured $1,247,000 for the acquisition of a newly constructed, single-tenant, retail asset that is 100 percent leased by Family Dollar/Dollar Tree. The property was developed in 2021 and is located at 524 Highway 207 in Spearman, Texas. The permanent loan was structured on a 10-year term and a 25-year amortization schedule. Northmarq arranged the loan for the borrower through its relationship with a regional bank.
"The borrower has primarily owned and operated apartment properties in other markets. They sold some of these communities due to the strong investor demand and was seeking to acquire the subject as a passive property investment. Northmarq sourced a loan that met the Borrower's request and continued this repeat client relationship," said Juran.
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