NorthMarq’s Houston office negotiates refinance of retail property in Springfield, Pennsylvania
Springfield Plaza
HOUSTON, TEXAS (April 11, 2021) – Matt Franke, senior vice president of NorthMarq’s Houston office, finalized refinancing for Springfield Plaza. The 37,223 sq. ft. retail property is located in Springfield, Pennsylvania. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with OneAmerica, a life company lender.
“NorthMarq was able to facilitate this loan with OneAmerica based upon lender's willingness to provide a creative prepayment structure to match the borrower's investment strategy, coupled with a low non-recourse interest rate,” said Franke.
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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.
