Northmarq Arranges Acquisition Financing for 388,700-Square-Foot Shopping Center in Montgomery, Alabama

Montgomery, Ala. — Northmarq has arranged financing for the acquisition of Shoppes at EastChase, a 388,700-square-foot shopping center located in Montgomery. Chad Owens of Northmarq’s Houston debt/equity team secured the loan through an undisclosed national bank on behalf of the borrower, an entity doing business as 5Rivers CRE. The loan carries a 10-year term with 4 years of interest only and a 40-year amortization schedule. Dillard’s, Target, Kohl’s and H&M anchor the property. Other tenants include Aldi, Ross Dress for Less, PetSmart, Ashley’s, DSW, Versona, Lululemon, Starbucks Coffee, Victoria’s Secret and Talbots.