NorthMarq finalizes refinance of Builder’s FirstSource industrial property in Houston, Texas
Builder’s FirstSource
HOUSTON, TEXAS (April 26, 2021) – Larry Peters, senior vice president of NorthMarq’s Houston office, arranged the refinance of Builder’s FirstSource. The 117,000 sq. ft. industrial property is located in Houston, Texas. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“The borrower was very happy with the long-term fixed-rate refinance at a very low interest rate just over 3 percent. NorthMarq’s life company lenders was chosen due to the ease of the process and for closing costs,” said Peters.
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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.
