Northmarq arranges $3.1 million refinance of suburban multi-story office building in Houston, Texas
Southwest International Building
HOUSTON, TEXAS (August 24, 2022) – Travis Fite, senior vice president of Northmarq’s Houston debt/equity team, finalized the $3.1 million cashout refinance of Southwest International Building. The 39,868 sq. ft. multi-story class B office building is located on South Wilcrest Drive in Houston, Texas. It was built in 1982 and last renovated in 2020. The property is conveniently located less than half of a mile from Interstate 69 South and Beltway 8.
The transaction was structured with a 10-year term on a 25-year amortization schedule. Northmarq secured the non-recourse, permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
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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.
