Northmarq completes refinance of a suburban office building in southeast Houston, Texas
HOUSTON, TEXAS (January 31, 2022) – Michael Borden, vice president of Northmarq’s Houston office arranged the refinance of a suburban, multi-story office property in southeast Houston, Texas. The transaction was structured with a 10-year term and flexible prepayment. Northmarq finalized the permanent-fixed loan for the borrower through its relationship with a regional bank.
“This transaction allowed our client to refinance their office building in a tough lending environment, reducing their interest rate, while also getting the lender to provide CapEx/TILC funds post-closing,” said Borden.
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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 more than $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
