NorthMarq arranges refinancing for Oak Forest Shopping Center in Houston, Texas
Oak Forest Shopping Center
HOUSTON, TEXAS (June 4, 2021) – Larry Peters, senior vice president of NorthMarq’s Houston office, arranged refinancing for Oak Forest Shopping Center. The 14,288 sq. ft. shadow-anchored strip center is located in Houston, Texas. The transaction was structured with a 5-year term on a 25-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“Retail is not the favorite property type for most lenders,” said Peters. “However, with a solid borrower and our historically strong life company relationships, we provided highly competitive loan terms where the borrower was able to pick and choose what fit his needs best.”
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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.
