NorthMarq Capital’s San Antonio office arranges $54 million refinance of Brass Professional Center in San Antonio, Texas

SAN ANTONIO (July 21, 2016) – Bryan Leonard, senior vice president/managing director of NorthMarq Capital’s San Antonio-based regional office, arranged the $54 million refinance of Brass Professional Center, a 728,059 sq. ft. office space located in Loop 410/Callaghan Road in San Antonio, Texas. A unique feature to this loan is that it is prepayable at any time with no lock-out and has no prepayment fees. NorthMarq arranged financing for the borrower through its relationship with a New York based bridge lender. Aetna, QTC, MCNA, and the University Health System are representative of the property’s major tenants. “The borrower was seeking to recapitalize the asset with lower cost bridge debt to take advantage of recent strong leasing activity and to properly position the asset according to the business plan,” said Leonard. “Our relationship with a large national bridge lender translated into loan approval 36 days from application and funding in 43 days. This was particularly remarkable due to the fact that this was a complex transaction with approximately 125 tenants.”