NorthMarq Capital completes $13.875 million refinance of Midway Commons in Carrollton, Texas

DALLAS (September 15, 2015) – Ronald Reese, senior vice president/managing director of NorthMarq Capital’s Dallas based regional office secured the $13.875 million refinance of Midway Commons, a 174,940 sq.ft. flex property located at 3410, 3414 and 3418 Midcourt Road and 2015 Midway Road in Carrollton, Texas. The transaction was structured with a 10-year term with 3-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a conduit CMBS lender. US Auto Club represents the property’s major tenant. The property is owned by a limited partnership managed by Harkinson Investment Corporation, a Dallas-based commercial real estate investment firm. “The transaction involved a substantial cash-out of approximately four million,” noted Reese. According to Jeff Harkinson, president of Harkinson Investment Corporation, “Ronald Reese and NorthMarq Capital has served our real estate financing needs for the past two decades and demonstrated to us once again why they are top in their field by delivering a superior loan from a repeat lender.”