NorthMarq’s Houston office secures $23.8 million recapitalization of single-tenant industrial portfolio located across eight states
HOUSTON, TEXAS (July 16, 2021) – Gary Hough, senior vice president in NorthMarq’s Houston office, arranged the $23.8 million recapitalization of a single-tenant industrial portfolio consisting of 13 class A & B properties across eight states (Alabama, Colorado, Indiana, Louisiana, Maryland, Texas, Virginia, Wyoming). The recapitalization payoff acquisition line of credit and consolidation into one loan) was structured with a 21-year fully amortizing term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life company lender.
“This transaction is part of more than $100 million of financing with this borrower that NorthMarq has completed over the past two years,” explained Hough. “We were able to offer some flexibility for collateral substitutions and prepayment.”
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.
