SAN ANTONIO, TEXAS (June 12, 2020) – Bryan Leonard, Senior Vice President/Managing Director of NorthMarq’s San Antonio office recently negotiated the $14.75 million refinance of Shaenfield Ranch Center. The 54,208 sq. ft. retail property is located at the intersection of Shaenfield Road and Loop 1604 in San Antonio, Texas. The transaction was structured with a 15-year term on a 20-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower, a repeat San Antonio client, through one of its correspondent life insurance company relationships.
This property is strategically located in one of the fastest growing and dynamic submarkets in San Antonio. It has excellent visibility and access along major thoroughfares. Evidence of its favorable locational and neighborhood demographic merits is its strong leasing performance to a diverse mix of service-oriented tenants.
“Top notch sponsorship, solid underwriting and location made this an attractive long-term lending opportunity for our correspondent lender. The borrower was seeking to put permanent financing in place and secured very competitive terms. The value of relationships and flexibility was thematic to this first transaction between the borrower and lender. Those two elements are especially important to successful transactions in 2020,” said Leonard.