NorthMarq Capital arranges $6.4 million mortgage for 2180 North Glenville Avenue in Richardson, Texas
AT&T Richarson
DALLAS (September 23, 2013) – Phillip Bankhead, vice president of NorthMarq’s Dallas regional office, arranged acquisition financing for 2180 North Glenville Avenue in Richardson, Texas. The asset is a 60,000 sq. ft. single-tenant office building in a desirable office park 100% leased to AT&T Services, Inc. Financing was based on a 15-year term and arranged for the borrower by NorthMarq through its relationship with a correspondent life insurance company lender. “It was important to have a loan maturity beyond the expiration of the initial lease term, so the new owner would have multiple investment options at the decision point,” Bankhead stated. “The lender was able to accommodate this with a minimum of structure.”
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
