Houston Lender Completes $3.825 Million Financing Deal for Houston Shopping Center

Travis Fite, senior vice president of NorthMarq’s Houston office completed acquisition financing of $3,825,000 for Louetta Creek Plaza. The 26,472 square-foot retail property is located in Spring, Texas. NorthMarq arranged the permanent, fixed-rate loan for the borrower through its correspondent relationship with StanCorp, a life company lender. Tenants at the property include State Farm, Snowflake Donuts, Expro Nails, Leslie’s Pool Supplies, Pizza Zone, and others. Even through the peak of COVID-related slowdowns, the tenants at the property have been able to adapt, with some of the restaurant tenants even enjoying increased sales through new takeout business. Its prime location on the well-traveled Louetta Road makes it an easy stop for Spring area residents to enjoy the good and services offered at this property.