Northmarq arranges acquisition financing for retail property in Houston, Texas
Y Plaza
HOUSTON, TEXAS (August 24, 2022) – Travis Fite, senior vice president of Northmarq’s Houston debt/equity team, secured acquisition financing for Y Plaza. The 27,762 sq. ft. unanchored strip retail property (built in 1970 and currently under renovation) consists of four buildings and is located on Bissonnet Street in Houston, Texas. The transaction was structured with a non-recourse fully-amortizing 15-year term. Northmarq negotiated the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
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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.
