Northmarq’s Houston office arranges acquisition financing for Shops at Humble in Humble, Texas
Shops at Humble
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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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.
