July 27, 2015

NorthMarq Capital’s Los Angeles office completes $16.5 million refinance of Landmark Towers in Oklahoma City, Oklahoma

Landmark Towers

Debt & Equity

Multi-Tenant

LOS ANGELES (July 27, 2015) – Robert Hervey, executive vice president/managing director and Mark Dodson, vice president of NorthMarq Capital’s Los Angeles based regional office arranged the $16.5 million refinance of Landmark Towers, a 274,656 sq.ft. office property located at 3335-3555 NW 58th Street in Oklahoma City, Oklahoma. The transaction was structured with a 10-year term with 5-years interest only and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “A legal matter from a former asset owned by the borrower and unexpected vacancies during closing, posed some unique challenges,” said Hervey. “The NorthMarq team worked closely with the borrowers to provide all the needed documentation—solving any remaining questions. The lender was able to work through all of the issues and closed the loan with only minor changes to the terms.”

Available Office properties

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.