HOUSTON, TEXAS (April 11, 2021) – Warren Hitchcock, senior vice president/senior director of NorthMarq’s Houston office, secured construction financing of the Tomball Medical Office Building. The property will be approximately 60,000 sq. ft. and located in Tomball, Texas. The transaction was structured with a fixed loan, which consists of a 5-year fixed rate, and a 25-year amortization schedule.
“NorthMarq was able to successfully negotiate leverage over 80 percent LTC on this Class A medical development at a very attractive low fixed rate,” said Hitchcock.