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