Northmarq’s Houston office completes acquisition financing of Branford Plaza in Sugar Land, Texas
HOUSTON, TEXAS (January 4, 2022) – Matt Franke, senior vice president of Northmarq’s Houston-based regional office, arranged acquisition financing for Branford Plaza. The 8,400 sq. ft. class A medical office property built in 2018 is located at 7417 Branford Place in Sugar Land, Texas. The transaction was structured with a 5-year term on a 25-year amortization schedule. The permanent-fixed loan was arranged for the borrower through Northmarq’s relationship with a regional bank.
“The acquisition loan was sourced with a regional bank who provided high leverage, low-rate debt for this recently constructed medical office property,” explained Franke. “The property is located in a high-growth Houston suburb and our client will be able to quickly improve the property's performance with additional leasing.”
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