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.”