Northmarq’s Dallas office completes bridge financing for two value-add retail properties in Lubbock, Texas
DALLAS, TEXAS (October 11, 2022) – David Mott, senior vice president of Northmarq’s Dallas debt/equity office, secured the fixed-rate bridge financing for two retail strips located in Lubbock Texas. The two Class B properties, Poka Lambro Plaza and 34th Street Retail, contain a combined 83,556 sq. ft. of rentable space. The loan was arranged on behalf of the sponsor, NetCo Investments, Inc.
Poka Lambro Plaza is located at 7006 University Avenue, Lubbock, Texas. The 2-building retail property was built in 1983 and is comprised of 41,404 sq. ft.
34th Street Retail is located at 4424 34th Street. Lubbock, Texas. The retail strip, built in 1960, is comprised of 42,152 sq. ft.
Meet our team
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.
