Kyle, Texas and Zebulon, N.C. — Northmarq has secured financing for the acquisition of Plum Creek Village and Zebulon Crossing, two retail centers located in Texas and North Carolina. Ory Schwartz of Northmarq arranged the two loans, totaling $9.3 million, through a life insurance company on behalf of an undisclosed individual investor. Financing included $5.25 million for the purchase of Plum Creek Village, a 19,899-square-foot shopping center located in Kyle, Texas. The property is home to tenants including Shipley’s Tropical Smoothie Café and Action Behavior Center. Tenants at the 30,475-square-foot Zebulon Crossing, for which Northmarq arranged $4 million in acquisition financing, include Verizon, GameStop, Great Clips and Papa Johns. The center is located at 877 East Gannon Ave. in Zebulon, North Carolina. The loan for Plum Creek Village is permanent-fixed and features a fully amortizing 25-year term, and the loan for Zebulon Crossing is permanent-fixed with a fully amortizing 20-year term.
Northmarq Arranges $9.3 Million Acquisition Financing for Properties in Texas, North Carolina