Arranges financing for Technology Forest office and retail plaza in the Woodlands, Texas
Technology Forest Plaza
HOUSTON (July 15, 2014) – Warren Hitchcock, vice president of NorthMarq Capital’s Houston based regional office secured permanent financing for Technology Forest, a mixed-use (office & retail), 65,117 sq. ft. property located on Research Forest Boulevard in The Woodlands, Texas. The building contains 20,100 sq.ft. of retail space and 45,017 sq.ft. of office space. The transaction was structured with a long term loan. NorthMarq arranged financing for the borrower through its correspondent relationship to a life company. “The mixed-use nature of this refinance created some challenges, however, NorthMarq Capital procured long-term permanent debt through one of its correspondent life companies that understood both the product and the market,” said Hitchcock. “In addition, the refinance was aggressively priced and rate locked early at an interest rate in the 3.0%’s which is a testament to the sponsors and the development.”
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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.
