NorthMarq’s Austin office secured $3.4 million in acquisition financing for Spring Plaza in Spring, Texas
AUSTIN, TEXAS (March 18, 2021) – Chase Johnson, vice president of NorthMarq’s Austin office arranged acquisition financing of $3,400,000 for Spring Plaza. The 10,720 sq. ft. retail property is located in Spring, Texas. The loan was originated through one of NorthMarq’s correspondent life insurance company relationships. The loan contained a 3-year interest only period allowing the borrower to achieve superior cash flow. Tenants at the property include Smoothie King, WingStop, A Couple of Vets, and Hotworx.
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.
