X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Fry Road Retail, Ltd., owners of the Westgate Marketplace shopping center at the northeast corner of Fry Road and Interstate 10 in west Houston, have obtained $28.5 million in term financing. The 292,614-sf center was developed in two phases in 2001 by Austin-based Barshop & Oles Co.

HEB Grocery anchors the project and was the first phase with the Kohl’s department store as the second anchor and phase. Other tenants include Cingular Wireless, Citifinancial, Office Max and Pier 1 Imports.

Barshop & Oles Co. continues to manage the center. Jim Richards of Houston-based Live Oak Capital Ltd. arranged the financing with lender, SouthTrust Bank.

Live Oak Capital, a full-service commercial mortgage banking firm, also recently arranged $7.5 million in permanent financing for Bellaire Shopping Center Associates, LP, a Trammell-Crow-sponsored partnership that has acquired and renovated the West University Marketplace shopping center at Weslayan Road in the West University/Bellaire submarket.

David Aaronson of Live Oak Capital arranged the financing through Lehman Brothers. The 60,136-sf shopping center was originally developed in 1950. The center has undergone a complete renovation and has attracted new tenants including Whole Foods Market, Inc. and Bank One.

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

Once you are an ALM digital member, you’ll receive:

  • 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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.