Northmarq’s Nashville office secures refinance for Plaza Balcones in Austin, Texas

Plaza Balcones

NASHVILLE, Tenn. (Sept. 14, 2023) — Jesse Lemos, senior vice president, arranged the refinance of Plaza Balcones. The 23,954 sq. ft. retail strip is located at 5515 Balcones Drive in Austin, Texas. The refinance was structured on a five-year term with a 30-year amortization schedule. Northmarq secured the permanent fixed financing through StanCorp.

“This property was an internal refinance and has been in our loan portfolio for 25 years with three different life company lenders,” Lemos said . “The lender and borrower agreed to a modest cash-out, non-recourse, 30-year amortization on a five-year fixed term. StanCorp provides one of the best loan programs in the country. We rate locked this deal at 5.88% before the markets moved north of 6.5-7.0%.”

Plaza Balcones was 100% leased at the time of the transaction. The class B property is situated in a popular neighborhood of north Austin. Tenants at the property include: Independence Title, Juice Land, Any Lab Test, Twin Liquors, Craig O’s and Pure Partners.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit:

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