NorthMarq secured the refinancing for Westchase Corporate Center in Houston, Texas
Matt Franke, senior vice president, and Ray Driver, managing director from NorthMarq’s regional Houston office, secured the refinancing for Westchase Corporate Center, a class B industrial-flex building located on 10111 Richmond Ave, Houston, Texas. The transaction was structured with a 15-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“The loan is well secured by a high quality, well maintained asset with nearly 100 tenants. The property outperformed the market in 2020 with increasing rents and occupancy. As a result, our correspondent lender Securian was willing to offer a very competitive long-term interest rate,” said Franke.
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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 $52 billion. For more information, visit www.northmarq.com.
