Arranges $6.09 million acquisition for Park Row Plaza in Houston, Texas
Park Row Plaza
HOUSTON (January 7, 2014) – Warren Hitchcock, vice president of NorthMarq’s Houston regional office arranged acquisition financing of $6.09 million for Park Row Plaza, a 69,883 sq.ft. office property located at 17171 Park Row, Houston, Texas. Financing for the transaction was structured with a 7-year term and 25-year amortization rate. NorthMarq facilitated financing for the borrower through its relationship with MidFirst Bank. “The acquisition financing of this Energy Corridor Office Building had a quick time frame in order to close before year end,” said Hitchcock. “The loan was aggressively priced and pursued by MidFirst Bank.” NorthMarq facilitated a smooth closing with MidFirst Bank in less than 45 days just before the holidays. “This shows the Houston Market still has significant momentum and strong interest from the lenders we represent nationwide.”
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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.
