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.