NorthMarq’s Houston office arranges acquisition financing for South Shore Medical in League City, Texas
South Shore Medical
HOUSTON, TEXAS (July 26, 2021) – Larry Peters, senior vice president of NorthMarq’s Houston office, negotiated acquisition financing for South Shore Medical. The 24,241 sq. ft. class A- medical office is located in League City, Texas. The transaction was structured with a fully-amortizing 25-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“NorthMarq was able to secure a 25-year fixed interest rate loan at sub four percent for this repeat client. The plan is to hold this asset, making it a multigenerational investment,” noted Peters.
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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.
