Medical Office - Debt


NorthMarq’s Houston office completes refinancing of Heritage Place II in Montgomery, Texas

HOUSTON, TEXAS (August 23, 2021) – Matt Franke, senior vice president, and Michael Borden, investment analyst in NorthMarq’s Houston office, collaborated to arrange the refinancing of Heritage Place II. The 16,630 sq. ft. medical/professional office property is located at 21325 Eva Street in Montgomery, Texas—a rapidly growing Houston suburb. 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 Standard Insurance Company. The Class A property is currently 100 percent occupied with three tenants. 

“Our fixed rate loan was used to replace the owner’s maturing construction loan and eliminate most of the covenants typically required by local bank lenders,” said Franke. “The lender is NorthMarq’s correspondent, Standard Insurance Company which has been a consistent and reliable lender for us for more than 20 years.”

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.