HOUSTON—Commercial mortgage banking company Q10 Kinghorn, Driver, Hough and Co. has secured financing for a Clear Lake-area anchored shopping center.

Larry Peters, vice president of the firm, has secured a $7 million permanent loan with a CMBS lender for Pecan Park Plaza, which is located at the intersection of Interstate 45 and FM 518 in League City.

“The borrower was looking to complete the execution of their acquisition/rehab by refinancing a bridge loan that we helped secure approximately a year ago,” says Peters. “By adding two long-term leases and back-filling the vacant space, they have now completed their game plan and expect to hold the asset long-term. The borrower returned the partners cash and secured fixed, non-recourse debt that allows the principals and partners more certainty of their future.”