Northmarq Secures $14M Loan for Madison Plaza Shopping Center in Huntsville

by John Nelson

HUNTSVILLE, ALA. — Northmarq has secured a $14 million loan for Madison Plaza, a 153,739-square-foot shopping center located at 930 Old Monrovia Road in Huntsville. Randy Wolfe of Northmarq arranged the 10-year financing through a regional credit union on behalf of RCP Cos., the developer of the adjacent MidCity district. The loan features one year of interest-only payments and a 25-year amortization schedule. Built in 1984 and renovated in 2016, Madison Plaza was leased at the time of financing to tenants including Havertys, Stars and Strikes, State Farm, Dragon Alley and Viet Huong.

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