NorthMarq’s Houston office negotiates acquisition financing for Albuquerque Trade Center
HOUSTON, TEXAS (August 17, 2021) – Matt Franke, senior vice president of NorthMarq’s Houston office, secured acquisition financing for Albuquerque Trade Center. The 60,511 sq. ft. industrial property is located in Albuquerque, New Mexico. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“Based upon our client's long term investment strategy, this loan was a perfect match for NorthMarq's correspondent insurance company lender,” said Franke. “The property was institutionally owned for many years and was 90 percent occupied at closing. We had multiple competitive loan proposals and ultimately chose Kansas City Life due to their efficient and low-cost closing process.”
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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 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.
