Stonegate Obtains $70M to Refi Two Office Properties

BIRMINGHAM, AL-Stonegate Real Estate Investments LLC has refinanced two trophy office properties for a total of $70 million. Wells Fargo provided two 10-year, fixed-rate mortgages for the four-building Urban Center here and Quail Springs Parkway Plaza in Oklahoma City, OK.

“These deals had all the qualities needed to develop a high level of interest from all different capital sources,” says Jimmy Board, a senior vice president in Jones Lang LaSalle’s Houston office. He arranged the financing along with Executive Managing Director and leader of the Real Estate Investment Banking team Tom Melody, Managing Director Chris Marshall and Senior Vice President Ralph Smalley.