NorthMarq negotiates $3.3 million refinance of Cutten Industrial Park in Houston, Texas
Cutten Industrial Park
HOUSTON, TEXAS (September 21, 2021) – Travis Fite, Senior Vice President of NorthMarq’s Houston office, arranged the $3.3 million refinancing of Cutten Industrial Park. The 35,625 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-rate loan for the borrower through its correspondent relationship with a life insurance company.
“Our team sourced a lender capable of working with the project size and borrower’s non-recourse requirements. The combination of cash-out proceeds and non-recourse won the deal for our correspondent lender,” said Fite.
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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.
