CONWAY, AR-Less than a year after buying the 150,000-square-foot building housing Southwestern Energy's regional headquarters, owner United Trust Fund of Miami, FL has obtained a $19.3-million, seven-year permanent loan on the office building. The sub-4% loan was obtained from a bank experienced in portfolio lending and brokered by Joseph Merrill Capital in New York City.

According to a recent GlobeSt.com article, UTF acquired the property at 1000 Energy Dr. in a sale-leaseback transaction valued at $30 million. The headquarters building was completed in 2010, with the location ideal for the company's Fayetteville Shale operations. Southwestern Energy is an independent energy company involved with the exploration, development and production of natural gas and crude oil in the United States.

James J. Rizzi, managing principal with JMC says UTF had a variety of refinancing options from which to choose, especially compared with just a couple of years ago. "It's the hyper competitive landscape that has really been driving attractive loan structures on recent executions," he tells GlobeSt.com. "More banks have been coming online and lending on a non-recourse basis to institutional sponsors. It would have been harder, a few years ago, to find permanent financing at the rates and terms we achieved on this asset from a portfolio lender. "