Search
 

St. Joseph Plaza Covering $3M Loan

HOUSTON-A locally based investment group, led by Republic Capital, secures a 10-year loan for $3.3 million at an interest rate of about 6%, using the 37,533-sf St. Joseph Medical Plaza at 2101 Crawford St. as collateral.

By Jennifer Brenner Andrade | Updated on December 08, 2003

HOUSTON-A $3.3-million loan from National Life Insurance Co. of Vermont has replaced short-term financing from a local bank for the St. Joseph Medical Plaza at 2101 Crawford St. near St. Joseph Hospital in Houston’s downtown.

A Houston-based investment group, led by Republic Capital, is the borrower, John Burke, senior director and senior vice president in the Houston office of Minneapolis-based NorthMarq Capital Inc., tells GlobeSt.com. Burke arranged a 10-year loan, with 25-year amortization, at an interest rate of about 6%. He says the loan is moderately leveraged.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.