Retail - Debt

NorthMarq arranges acquisition financing of $7.45 million for retail property on 99-year ground lease

AUSTIN, TEXAS (February 13, 2020) – Jesse Lemos, vice president of NorthMarq’s Austin office secured acquisition financing of $7.45 million for The Depot Retail. The property, located at 401 East Whitestone Boulevard in Cedar Park, Texas, contains 49,251 sq. ft. Major tenants on the property include: Wild West and Flex Fit. 

“The property was situated on a 99-year ground lease with 83 years remaining. NorthMarq was able to secure highest proceeds, non-recourse and the best rate for our client,” said Lemos. 

Financing Details:
– 7-year term
– 25-year amortization schedule
– Non-recourse
– NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with a credit union.  

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.