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.

|

The Johnson Capital team of Greg Richardson, ScottWatson, Jason Pumpelly and Brian Parkarranged the debt on behalf of NADG.

|

Johnson Capital provides a variety of real estate financingservices to commercial property owners throughout the UnitedStates, including arranging debt and equity financing foracquisitions, new construction and repositioning of all propertytypes.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.