Northmarq arranges $5,504,811 of acquisition financing for Hermann Services Office Warehouse in Houston, Texas
Hermann Services Office Warehouse
HOUSTON, TEXAS (January 6, 2023) — Matt Franke, senior vice president of Northmarq’s Houston debt/equity team, negotiated acquisition financing of $5,504,811 for Hermann Services Office Warehouse. The 72,649 sq. ft. owner-used warehouse property is located at 6410 Cavalcade Street in Houston, Texas. The transaction was structured with a 5-year term on a 25-year amortization schedule. Northmarq secured financing for the borrower through its relationship with a national bank.
“Northmarq was able to secure a lender who provided maximum loan proceeds, the lowest interest rate, and offered 60-day rate lock during a volatile market,” said Franke.
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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.
