AUSTIN, TEXAS (July 13, 2021) – Chase Johnson, vice president of NorthMarq’s Austin office arranged acquisition financing of $4,500,000 for the Lighthouse Market in Lakeway, Texas. The 20,237 sq. ft. unanchored retail strip center is located at 1700 RR 620 North. The transaction was structured on a 30-year amortization schedule. Johnson negotiated the permanent financing for the borrower through his relationship with a local credit union.
“Our ability to secure a 30-year amortization on this transaction is an example of lenders getting more competitive on retail product type. We are noticing lender interest for well-located unanchored retail centers are on the rise. Although we are not fully back to pre-COVID interest levels, many more lenders are jumping back into the space and we are excited for the future of retail,” said Johnson.