NorthMarq Capital arranges $18.25 million refinance of Concord Park II in San Antonio, Texas
Concord Park II
SAN ANTONIO (November 19, 2014) – Bryan Leonard, managing director of NorthMarq Capital’s San Antonio based regional office arranged the $18.25 million refinance of Concord Park II, a 121,698 sq.ft. office property located at 401 E. Sonterra Boulevard in San Antonio, Texas. The transaction was structured with a 7-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with the life insurance company, AIG. The high quality property contains a credit oriented group of tenants that is unique to San Antonio. They include: Baker Hughes, Microsoft, Weatherford, Liberty Mutual and Raymond James. “AIG offered a great execution at a historically low interest rate for this institutional, credit oriented class “A” office asset owned by one of the area’s top development groups that enabled them to replace construction financing with longer term fixed-rate non-recourse financing,” said Leonard.
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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.
