Arranges $6.09 million acquisition for Park Row Plaza in Houston, Texas

Park Row Plaza
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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.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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