HOUSTON, TX—Johnson Capital has arranged a loansecured by a grocery-anchored retail property, the Commonsat Presidio Square.
The center is located on the northeast corner of BellaireBoulevard and Highway 6. It contains 189,340 squarefeet and was built in 1985. The center is anchored by anHEB supermarket and has numerous national tenantsoccupying in-line space. The new loan was arranged with a nationalbank.
The owner of the property is North American DevelopmentGroup (NADG), which bought the property in 2010. NADG wasfounded in 1977 and has been active in the development,acquisition, redevelopment, and management of over 200shopping centers containing in excess of 25 million squarefeet gross leasable area, with an enterprise value of over $3billion. NADG owns more than 14 million square feet of existingshopping center gross leasable area in the United States andCanada, as well as 4 million square feet of gross leasable area indevelopment or pre-development.
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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.
