Michael Borden Of NorthMarq Secures $28.5M Loan From OneAmerica In Houston

Champions Forest Plaza is an 187,000-square-foot retail center located at 5460 Fm 1960, Houston, TX, 77069. The property was originally built in the 1960s and was 92 percent leased at the time of the loan closing, hosting tenants such as The Container Store, Gap, Ann Taylor, Starbucks, and Jos. A. Bank.

Summary of transaction details:

• Property Type: Retail Center
• Transaction Amount: $28,500,000.00
• Market: Houston
• Borrower's Representative: Michael Borden-NorthMarq
• Lender: OneAmerica
• Borrower: Smithco
• Loan Term: 15 years
• Amortization Schedule: 25 years

Matthew Franke and Ray Driver also participated in arranging the fixed-rate loan alongside Michael Borden. The financing was secured through OneAmerica, a life insurance company based in Indianapolis, specifically for the purpose of refinancing the property.