NorthMarq’s Houston office secures cash-out refinance for class A retail/service property in Conroe, Texas
Market at Shenandoah
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 one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
