The lender's identity was not available by press time. Borrower West Belt Shops Ltd. of Dallas signs off on a 10-year loan with 30-year amortization at a 7.32% interest rate for the center at 9105 W. Sam Houston Parkway. Stephen C. Whitehead, NorthMarq's assistant vice president in Dallas, arranged the loan.
West Belt Shopping Center is a new, single-story strip venue anchored by an Albertsons grocery store. Its tenant roster includes Hallmark Cards, Hollywood Video, Subway and Starbuck.
Christina Sharrock, investment analyst, reports loans have been steady despite the economic slowdown. She says lenders are still approving loans, but they are paying more attention to due diligence and are less willing to waive any of the steps along the way.
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