Northmarq completes $30.6 million in financing for industrial development in Pflugerville, Texas
SAN FRANCISCO, CALIFORNIA (September 29, 2021) – Dennis Williams, managing director of Northmarq’s San Francisco regional office, arranged a $30.6 million loan on behalf of the joint venture between Live Oak and Prologis. The competitively priced fixed rate loan was structured with a ten-year interest only term. The Northmarq team leveraged its correspondent life company relationship to procure the most competitive terms. Williams assisted his client in the acquisition of a recently completed 27-acre industrial development that encompasses approximately 264,000 sq. ft of class A industrial product shared between three buildings. The three assets were 100 percent leased to 10 tenants at closing.
The site is located in Pflugerville, Texas which is a suburb of Austin located within Travis County. The industrial campus is located off the frontage road of SH 45 and Heatherwilde Boulevard. The project has excellent freeway visibility and provides unparalleled access to SH 130, I-35 and Mopac.
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.
