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.