NorthMarq Capital arranged $39 million bridge loan for Brass Professional Center in San Antonio, Texas
Brass Professional Center
SAN ANTONIO (January 31, 2013) – Bryan Leonard, senior vice president and managing director of NorthMarq’s San Antonio Regional office, and William Luedemann, senior vice president and managing director of NorthMarq’s Houston Regional office, cooperated to arrange a bridge loan of $39 million for Brass Professional Center in San Antonio, Texas. This asset consists of sixteen professional buildings containing a combined total of 759,341 sq. ft. of office space. Major tenants at the site include Aetna, MCNA, Santa Rosa, Harris Connect, and QTC. NorthMarq arranged this financing for the borrower through its relationship with a life company lender. “This transaction had a complex capital structure, ownership history and more than 100 tenants,” Leonard said. “Our insurance company investor immediately recognized and understood the value opportunity Brass Professional Center represented from the beginning. The investor maintained flexibility on a complex transaction which is a testament to the sponsorship and market.”
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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.
