Northmarq arranges acquisition financing for retail property in Houston, Texas
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 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.
