NorthMarq negotiates $2.9 million in acquisition financing for Steeplechase Crossing in Houston, Texas

Steeplechase Crossing
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HOUSTON, TEXAS (October 1, 2021) – Larry Peters, senior vice president, and Adam Unger, investment analyst from NorthMarq’s Houston office, arranged acquisition financing of $2.9 million for Steeplechase Crossing. The 19,043 sq. ft. unanchored strip retail property is located in Houston, Texas. The transaction was structured with a 3-year term. NorthMarq finalized financing for the borrower through its correspondent relationship with a life insurance company. 

“We were able to secure this loan for the borrower thanks to the max leverage option for a retail center acquisition. Sourced through one of our correspondent life company lenders, we were successful only because of our past and ongoing relationship with both borrower and lender,” said 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.
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