NorthMarq Capital arranged $5.425 million in combined acquisition financings for two retail properties in suburban Houston, Texas
Shadow Creek Ranch - Stone Gate Commons
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.”
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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.
