DALLAS (February 19, 2013) – Paul Brighton, senior vice president and senior director of NorthMarq’s Dallas Regional office, arranged acquisition financings of $5.25 million for two retail properties with a combined total of 46,600 sq. ft. of retail space. Shadow Creek Ranch is a 24,600 sq. ft. retail property located in Pearland, Texas. It was financed at $3.425 million. The major tenant in the center is St. Luke’s Community Emergency Center. Stone Gate Commons is a 22,000 sq. ft. retail property located in Cypress, Texas. It was financed at $2 million. The major tenant in this center is Prudential Realty. Financing for both of these transactions was based on a 15-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationships with life company lenders. “We closed two life company financings for two well-located strip retail centers in the suburban Houston area,” said Brighton. “These loans accommodated a 1031 Exchange for a long time client and provided competitive long term interest rates and terms.”
Retail -
Debt
