NorthMarq completes refinance of Schneider Electric office property located in Houston, Texas
HOUSTON, TEXAS (April 28, 2021) – Matt Franke, senior vice president in NorthMarq’s Houston office, completed the refinance of Schneider Electric. The single-tenant 109,833 sq. ft. class A- office property is located in Houston, Texas. The transaction was structured with a fully-amortizing 25-year term on a 3.5 percent interest rate. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with StanCorp, a life insurance company.
“We placed this loan with StanCorp because of their competitive terms, specifically their rate re-set feature,” said Franke. “The borrower had a maturing loan with another insurance company lender, and thankfully we were able to provide multiple refinance options to our repeat borrower.”
Meet our team
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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
