NorthMarq Capital’s Houston office arranges bridge financing for Copeland Tower and Stadium Place Office Towers
Office Towers
HOUSTON (November 2, 2016) – Warren Hitchcock, vice president of NorthMarq Capital’s Houston-based regional office, arranged bridge financing through a balance sheet lender for Copeland Tower and Stadium Place, a 210,955 sq. ft. office property located at 1200 and 1250 East Copeland Road in Arlington, Texas. The State of Texas represents the property’s major tenant. “This two building portfolio, with a good tenant base, is in an excellent location with proximity to major interstates and entertainment, and despite some challenges in the market and property rollover, the lender was able to successfully structure a high leverage loan with future capital earnouts. This new capital structure allows the owner to pursue tenants more aggressively and improve the property further; a true win-win,” 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.
