Northmarq’s Houston office arranges acquisition financing for Shops at Humble in Humble, Texas
HOUSTON, TEXAS (December 21, 2021) – Travis Fite, senior vice president in Northmarq’s Houston office, secured acquisition financing for Shops at Humble. The 28,820 sq. ft. class B unanchored strip retail property is located in Humble, Texas. The transaction was structured with a 5-year term on a 25-year amortization schedule at a 3.5 percent interest rate. Northmarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“A healthy historical relationship with the lender allowed to borrower to obtain a 75 percent LTV acquisition loan at a 3.5 percent fixed rate on a historically performing neighborhood retail property,” said Fite.
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