Northmarq finalizes refinance of an Industrial Park in North Houston
HOUSTON, TEXAS (September 21, 2021) – Dave Holland, senior vice president of Northmarq’s Houston office, secured the refinancing of an industrial property located in North Houston, Texas. The transaction was structured with a 10-year term on a 25-year amortization schedule. Northmarq secured the permanent-fixed loan at a 3.40 percent interest rate for the borrower through its correspondent relationship with a life insurance company.
“This repeat client refinanced a bank and locked in longer term, nonrecourse financing at a much lower rate with one of our many correspondent life company lenders. As a plus, this transaction provided some cash back to the borrower,” said Holland.
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.
