NorthMarq negotiates $3.3 million refinance of Cutten Industrial Park in Houston, Texas
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 a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
