SAN ANTONIO (April 11, 2016) – Bryan Leonard, senior vice president/managing director of NorthMarq Capital’s San Antonio based regional office arranged acquisition financing for a 25,379 sq. ft. office property located at 7540 Louis Pasteur Drive in San Antonio, Texas. The transaction was structured with a 10-year term and 25-year amortization schedule and featured a 75 percent LTV. NorthMarq arranged financing for the borrower through its relationship with a local bank.
The property is well located in the South Texas Medical Center and is 100 percent occupied. Both the lender and the sponsor were able to develop a comfort level with the tenant base and lease terms due to the location, property history and market dynamics.
“The lender offered a flexible and competitive execution for the borrower,” said Leonard. “The lender was locally based and that was an asset in evaluating the asset and opportunity.”