Retail (MT)
Debt & Equity

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.  

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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The Depot Retail
Permanent Loan - Fixed
$7,450,000