Northmarq’s Nashville office secures $9.95 million bridge loan for single-tenant industrial property
NASHVILLE (June 19, 2024) — Northmarq’s Nashville Debt + Equity team of Jesse Lemos and William Rhett arranged the acquisition financing of an Austin, Texas industrial property leased to Restaurant Depot. Located at 8201 S. Congress Avenue, the 58,435-sq.-ft. property was built in 1975 and serves as a distribution center/warehouse.
Northmarq arranged the $9.95 million bridge loan on behalf of the borrower, Austin-based owner SOCO Flex, from start to finish in 10 business days. The transaction was structured on a 2-year term.
“We had the utmost faith in the lender we chose. Graham Mortgage out of Dallas is one of the best bridge lenders out there providing fixed rate loans. The borrower did a fantastic job in securing the tenant just days before closing,” said Lemos.
This part of Austin has been growing at a rapid pace, and a tenant such as Restaurant Depot is a needed asset for all the existing and new restaurants in the area.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
