Northmarq’s Dallas office completes bridge financing for two value-add retail properties in Lubbock, Texas
Two Value-Add Retail Properties
DALLAS, TEXAS (October 11, 2022) – David Mott, senior vice president of Northmarq’s Dallas debt/equity office, secured the fixed-rate bridge financing for two retail strips located in Lubbock Texas. The two Class B properties, Poka Lambro Plaza and 34th Street Retail, contain a combined 83,556 sq. ft. of rentable space. The loan was arranged on behalf of the sponsor, NetCo Investments, Inc.
Poka Lambro Plaza is located at 7006 University Avenue, Lubbock, Texas. The 2-building retail property was built in 1983 and is comprised of 41,404 sq. ft.
34th Street Retail is located at 4424 34th Street. Lubbock, Texas. The retail strip, built in 1960, is comprised of 42,152 sq. ft.
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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.
