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