NorthMarq’s Houston office completes acquisition financing for office property in Missouri City, Texas
HOUSTON, TEXAS (August 23, 2021) – Matt Franke, senior vice president of NorthMarq’s Houston office, secured acquisition financing for a 64,132 sq. ft. Class B office property located at 2440 Texas Parkway in Missouri City, Texas. The property is 91 percent occupied. The non-recourse transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Innovative Capital Advisors. Wells Fargo represents the property’s major tenant.
“Our client sought high leverage acquisition financing for this recently renovated, suburban, multi-tenant building. As a new investor to Texas, non-recourse financing was important, which we were able to source through our ongoing partnership with Innovative Capital Advisors,” 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. 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.
