George Lake, owner and operator of the center, obtained the capital from Berkshire Life Insurance Co., owned by Guardian Life Insurance Co. of New York City. The loan replaces construction financing. Loan arranger John Burke, senior director/senior vice president with Minneapolis-based NorthMarq Capital Inc.'s Houston office, tells GlobeSt.com, that the rate was "very competitive" although he wouldn't say just what the interest rate was for the package.
Burke says the property, situated on about 2.2 acres, is less than a year old. The property is "super class A and well located," Burke says of the 100%-occupied shopping center. The tenant roster includes key residential realtors in the Woodlands area, a title company and insurance agency as well as Woodlands' popular Pallota's Black Walnut Cafe.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.
