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.”