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NorthMarq Arranges Acquisition Financing for Trio of Walgreens
NorthMarq Capital’s San Diego regional office arranged acquisition financing of $13.4 million for a portfolio of three Walgreens properties each containing 14,820 square feet and located in Texas and Ohio. The transaction was structured with a five-year term on a 25-year amortization schedule.
NorthMarq’s Steve Hollister arranged financing for the borrower through its relationship with a credit union.
Hollister says, “The lender provided a loan at 70% of the purchase price on the acquisition of three free- standing Walgreens at a competitive fixed rate for five years. A key component to the loan structure was that the fixed rate loan could be prepaid at any time, with no lockout period or prepayment penalty. Timing and reliable execution, along with the fixed rate and no prepayment penalty, were important to the borrower on the acquisition.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




