NorthMarq’s Houston office secures cash-out refinance for class A retail/service property in Conroe, Texas
HOUSTON, TEXAS (April 11, 2021) – Larry Peters, senior vice president of NorthMarq’s Houston office finalized a cash-out refinance for Market at Shenandoah. The 11,560 class A retail/service property located in Conroe, Texas. The transaction was structured with a 10-year term on a 25-year amortization schedule at a 3.65 percent interest rate. NorthMarq arranged financing for the borrower through its correspondent relationship with Symetra, a life insurance company.
“Our repeat client rate-locked at loan application prior to a major tenant's lease payments commenced and physical occupancy. The lender was very accommodating,” said Peters.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
