HOUSTON, TX—Johnson Capital has arranged a loan secured by a grocery-anchored retail property, the Commons at Presidio Square.
The center is located on the northeast corner of Bellaire Boulevard and Highway 6. It contains 189,340 square feet and was built in 1985. The center is anchored by an HEB supermarket and has numerous national tenants occupying in-line space. The new loan was arranged with a national bank.
The owner of the property is North American Development Group (NADG), which bought the property in 2010. NADG was founded in 1977 and has been active in the development, acquisition, redevelopment, and management of over 200 shopping centers containing in excess of 25 million square feet gross leasable area, with an enterprise value of over $3 billion. NADG owns more than 14 million square feet of existing shopping center gross leasable area in the United States and Canada, as well as 4 million square feet of gross leasable area in development or pre-development.
The Johnson Capital team of Greg Richardson, Scott Watson, Jason Pumpelly and Brian Park arranged the debt on behalf of NADG.
Johnson Capital provides a variety of real estate financing services to commercial property owners throughout the United States, including arranging debt and equity financing for acquisitions, new construction and repositioning of all property types.