NorthMarq’s Austin office finalizes $3.25 million refinance of One Village Park in San Antonio, Texas
One Village Park
AUSTIN, TEXAS (January 27, 2021) – John Morran, senior vice president/managing director of NorthMarq’s Austin debt/equity team arranged the $3.25 million refinance of One Village Park. The 48,393 sq. ft. office property is located at 1407 San Pedro Avenue in San Antonio, Texas. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq secured the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“This transaction, with an existing NorthMarq relationship, allowed the borrower to take advantage of a cash-out refi while also obtaining a lower interest rate, even though there was remaining term on the original loan.” explained Morran.
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.
