NorthMarq’s Austin office finalizes $3.25 million refinance of One Village Park in San Antonio, Texas
AUSTIN, TEXAS (January 27, 2021) – John Morran, senior vice president/managing director of NorthMarq’s Austin debt/equity team arranged the $3.25 million refinance of One Village Park. The 48,393 sq. ft. office property is located at 1407 San Pedro Avenue in San Antonio, Texas. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq secured the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“This transaction, with an existing NorthMarq relationship, allowed the borrower to take advantage of a cash-out refi while also obtaining a lower interest rate, even though there was remaining term on the original loan.” explained Morran.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
