Warren Hitchcock, senior vice president senior director of NorthMarq Capital’s Houston regional office, arranged financing for Deer Park Marketplace.

The 35,000 sq. ft. retail property with an anchor tenant Planet Fitness is located in Deer Park Texas. The transaction was structured with a 10-year term (with 5-years interest only) on a 30-year amortization schedule thereafter. NorthMarq arranged financing for the borrower through its correspondent lending relationship

“NorthMarq was able to provide best terms in the marketplace on a lower leverage non-recourse permanent refinance of the borrower’s construction debt, which capitalized on the strength of location, sponsor, and underwriting metrics,” said Hitchcock. “A low rate and interest only were important to the borrower to maximize cash flow and lock in historically low borrowing costs.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information, please visit www.northmarq.com.