Northmarq secures $50,000,000 refinance of a 21-property industrial portfolio in the Houston MSA

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industrial property in Houston

HOUSTON (Aug. 5, 2024) — Northmarq’s Houston Debt + Equity team of Travis Fite, senior vice president, and Matt Franke, senior vice president, successfully arranged the refinance of an industrial portfolio consisting of 21 properties in the Houston MSA totaling over 675,000 sq. ft.

Northmarq secured the permanent fixed rate loan for the borrower, Welcome Group, LLC, through its correspondent lender, Symetra Life Insurance Company. The portfolio is a mix of single-tenant metal and concrete tilt wall buildings.

“To align with the borrower’s needs for term and proceeds, we placed a fixed rate loan with Symetra who did an outstanding job to close this portfolio loan with minimal closing costs,” said Fite. “The lender was able to meet our requested loan amount at a reasonable LTV, seeing the value in a diverse pool of assets and a top-notch borrower.”

The loan also features an interest only period and opportunity for an additional earnout.

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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.
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