{"id":1004141103,"date":"2016-04-13T08:10:52","date_gmt":"2016-04-13T16:10:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004141103"},"modified":"2022-12-08T23:16:16","modified_gmt":"2022-12-09T07:16:16","slug":"northmarq-capital-closes-construction-loan-for-preserve-plaza-in-houston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northmarq-capital-closes-construction-loan-for-preserve-plaza-in-houston\/","title":{"rendered":"NorthMarq Capital Closes Construction Loan for Preserve Plaza in Houston"},"content":{"rendered":"

By Adelina Osan, Associate Editor<\/em><\/p>\n

Houston<\/strong>\u2014NorthMarq Capital\u2019s Houston office recently closed the refinance<\/a> of a construction loan for a retail property<\/a> located in a high growth area surrounding The Woodlands. Warren Hitchcock, vice president of NorthMarq Capital\u2019s Houston, arranged the loan for Preserve Plaza.<\/p>\n

\"Preserve<\/a>

Preserve Plaza<\/p><\/div>\n

Located on Kuykendahl Road near The Woodlands, Preserve Plaza totals 11,000 square feet. The transaction<\/a> was structured with a 15-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.<\/p>\n

\u201cThis was a repeat loan for this borrower and NorthMarq\u2019s correspondent life company lender. This 15 year term permanent loan allowed the owners to refinance the construction loan long-term with a fixed rate in the low 4.0 percent range,\u201d said Hitchcock in a prepared statement. \u201cThe two tenant nature of the property provided some challenges with its lack of multi-tenant diversity; however NorthMarq guided the lender through the physical attributes, including the desirable location next to The Woodlands master planned community and the new Grand Parkway despite the low barrier to entry within the immediate market.\u201d<\/p>\n

Image courtesy of\u00a0NorthMarq Capital<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Vice President Warren Hitchcock of NorthMarq Capital\u2019s Houston arranged the loan for Preserve Plaza. <\/p>\n","protected":false},"author":735,"featured_media":1004141105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1589,21742,21749],"tags":[],"class_list":["post-1004141103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-houston","category-latest","category-retail"],"acf":[],"yoast_head":"\nNorthMarq Capital Closes Construction Loan for Preserve Plaza in Houston - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/northmarq-capital-closes-construction-loan-for-preserve-plaza-in-houston\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NorthMarq Capital Closes Construction Loan for Preserve Plaza in Houston\" \/>\n<meta property=\"og:description\" content=\"Vice President Warren Hitchcock of NorthMarq Capital\u2019s Houston arranged the loan for Preserve Plaza.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/northmarq-capital-closes-construction-loan-for-preserve-plaza-in-houston\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-13T16:10:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:16:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Preserve-Plaza.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1058\" \/>\n\t<meta property=\"og:image:height\" content=\"795\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adelina Osan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northmarq-capital-closes-construction-loan-for-preserve-plaza-in-houston\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/northmarq-capital-closes-construction-loan-for-preserve-plaza-in-houston\/\",\"name\":\"NorthMarq Capital Closes Construction Loan for Preserve Plaza in Houston - 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