NorthMarq’s Houston office arranges construction financing for medical office property in Houston, Texas
Medical Office Property
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.
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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.
