HOUSTON (October 10, 2013) – Warren Hitchcock, vice president of NorthMarq’s Houston regional office, arranged first mortgage refinancing for Woodlake Plaza, a 53,516 sq. ft. office/retail/medical park located at 4801 Fredericksburg Road, San Antonio, TX. Financing was based on a 10-year term and a 25-year amortization schedule with 75% LTV and a floating rate near 3%. NorthMarq arranged this financing for a Houston based borrower through its relationship with a regional bank. “NorthMarq’s Houston office originated debt with an aggressive local and regional bank which successfully closed on the mixed-use medical/retail/office park in San Antonio, TX,” said Hitchcock. “The property was recently stabilized and the lender offered interest only and a 1% prepayment throughout the term.”
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Debt
