NorthMarq’s Houston office arranges acquisition financing for Friendswood Retail Center in Friendswood, Texas
Friendswood Retail Center
HOUSTON, TEXAS (July 16, 2021) – Larry Peters, senior vice president of NorthMarq’s Houston office, secured acquisition financing for Friendswood Retail Center. The 18,024 sq. ft. shadow-anchored strip center is located at 108 East Edgewood Drive in Friendswood, Texas. The transaction was structured with a 3-year term on a 30-year amortization schedule. NorthMarq negotiated the permanent-fixed loan for the borrower through its relationship with a regional bank.
“This was a full leverage loan with a 30-year amortization secured at a very attractive interest rate for a well-performing class B+ strip retail asset,” said Peters.
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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.
