Retail - Debt

NorthMarq’s Houston office arranges acquisition financing for Friendswood Retail Center in Friendswood, Texas

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. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.