HOUSTON, TEXAS (March 5, 2021) – Larry Peters, senior vice president of NorthMarq’s Houston office secured the refinancing of Mason Creek Business Park. The 107,866 sq. ft., class B office/warehouse property is located in Katy, Texas. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company.
“We were able to secure a fixed rate loan at 2.75% for 10 years, which drastically improved the client’s current interest rate and cash flow. The additional cash flow enables the borrower to pay off his loan many years earlier than originally scheduled,” said Peters.