NorthMarq’s Austin office secured $3.4 million in acquisition financing for Spring Plaza in Spring, Texas
Spring Plaza
AUSTIN, TEXAS (March 18, 2021) – Chase Johnson, vice president of NorthMarq’s Austin office arranged acquisition financing of $3,400,000 for Spring Plaza. The 10,720 sq. ft. retail property is located in Spring, Texas. The loan was originated through one of NorthMarq’s correspondent life insurance company relationships. The loan contained a 3-year interest only period allowing the borrower to achieve superior cash flow. Tenants at the property include Smoothie King, WingStop, A Couple of Vets, and Hotworx.
About Northmarq
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.
