NorthMarq Capital arranges $13.925 million mortgage for Preston Creek Shopping Center in Plano, Texas
Preston Creek Shopping Center
DALLAS (October 2, 2013) – Paul Brighton, senior vice president and senior director of NorthMarq’s Dallas regional office, arranged refinancing of $13.925 million for Preston Creek Shopping Center, a 79,770 sq. ft. neighborhood retail center located in Plano, Texas. NorthMarq arranged this financing for the borrower through its relationship with a CMBS lender. “The owner was searching for a non-recourse, fixed-rate financing option for a property that had not quite reached stabilization,” Brighton said. “This loan provided the solution with very attractive pricing and a structure to provide funds for the remaining lease-up.”
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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.
