AUSTIN, TX—Paul Brighton, senior vice president and senior director, of NorthMarq's Dallas regional office, has arranged a $9.96 million bridge loan for the acquisition of West Side Village, a 50,132 sq. ft. retail/office urban in-fill property located at 1214 W. 6th Street in Austin. Julian Gold, Artworks Gallery and Infochimps are major tenants. NorthMarq arranged this non-recourse, 3-year financing for the borrower through its relationship with a real estate investment trust.
West Side Village is on West 6th Street, just west of the downtown Austin Market District and Whole Foods. The new owner is a Dallas based private investment company that will reposition and improve the center during the bridge period.
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 33 offices coast to coast. With an average of $9.5 billion in annual production volume and servicing a loan portfolio of over $41 billion, the company offers expertise to borrowers of all size.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
