SAN FRANCISCO, CALIFORNIA (September 29, 2021) – Dennis Williams, managing director of Northmarq’s San Francisco regional office, arranged a $30.6 million loan on behalf of the joint venture between Live Oak and Prologis. The competitively priced fixed rate loan was structured with a ten-year interest only term. The Northmarq team leveraged its correspondent life company relationship to procure the most competitive terms. Williams assisted his client in the acquisition of a recently completed 27-acre industrial development that encompasses approximately 264,000 sq. ft of class A industrial product shared between three buildings. The three assets were 100 percent leased to 10 tenants at closing.
The site is located in Pflugerville, Texas which is a suburb of Austin located within Travis County. The industrial campus is located off the frontage road of SH 45 and Heatherwilde Boulevard. The project has excellent freeway visibility and provides unparalleled access to SH 130, I-35 and Mopac.