HOUSTON, TEXAS (April 11, 2021) – Warren Hitchcock, senior vice president/senior director of NorthMarq’s Houston office, secured long-term permanent financing of the Medical Retail building. The property is 40,000 sq. ft. and located in southwest San Antonio, Texas. The transaction was structured with a permanent fixed loan, which consists of a 20-year fixed rate, and a 25-year amortization schedule.
“Refinance of retail related property was difficult during the height of the COVID shutdowns, however, NorthMarq’s unique correspondent relationship provided superior terms in a distressed and dislocated market,” said Hitchcock.