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.