NorthMarq Capital arranges $16.4 million refinance of The Terrace at Concord Park in San Antonio, Texas
The Terrace at Concord Park
SAN ANTONIO (May 21, 2015) – Bryan Leonard, managing director of NorthMarq Capital’s San Antonio based regional office secured the $16.4 million refinance of The Terrace at Concord Park, a 161,563 sq.ft. office property located at 607 & 777 E. Sonterra Boulevard in San Antonio, Texas. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide. The property has a high quality, credit-orientated group of tenants that is unique to the San Antonio area. Major tenants on the property include: State Farm, Wells Fargo, Schlumberger and Ryland Homes. “Nationwide offered an efficient execution at a historically low interest rate for this institutional, credit-orientated class “A” office asset owned by one of the area’s top development groups,” said Leonard. “This enabled them to refinance early to take advantage of low rates with long-term fixed rate non-recourse financing.”
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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.
