NorthMarq arranges $4.5 million in acquisition financing for Lighthouse Market in Austin, Texas
AUSTIN, TEXAS (July 13, 2021) – Northmarq’s Austin office arranged acquisition financing of $4,500,000 for the Lighthouse Market in Lakeway, Texas. The 20,237 sq. ft. unanchored retail strip center is located at 1700 RR 620 North. The transaction was structured on a 30-year amortization schedule. Northmarq negotiated the permanent financing for the borrower through his relationship with a local credit union.
“Our ability to secure a 30-year amortization on this transaction is an example of lenders getting more competitive on retail product type. We are noticing lender interest for well-located unanchored retail centers are on the rise. Although we are not fully back to pre-COVID interest levels, many more lenders are jumping back into the space and we are excited for the future of retail."
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
