HOUSTON, TEXAS (April 28, 2021) – Larry Peters, senior vice president of NorthMarq’s Houston office, arranged the refinance of Greenbelt Plaza Shopping Center. The 24,699 sq. ft. shadow-anchored strip center is located in Childress, Texas. The transaction was structured with a 5+ year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with StanCorp, a life company lender.
“We were able to leverage our long-standing capital relationships to secure this cash-out refinance on a retail property in a secondary market,” said Peters.