Northmarq completes acquisition financing for retail property in Center, Texas
HOUSTON, TEXAS (August 24, 2022) – Travis Fite, senior vice president of Northmarq’s Houston debt/equity team, arranged acquisition financing for a Dollar Tree anchored retail. The 29,378 sq. ft. unanchored retail property (built in 1988) is located at 1305 Tenaha Street in Center, Texas. Center is a small town is east Texas with a population of 5,200. The transaction was structured with a fully-amortizing 10-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.
