Office - Debt

NorthMarq Capital arranges $6.4 million mortgage for 2180 North Glenville Avenue in Richardson, Texas

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.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.