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.”
