SAN ANTONIO–The San Antonio-based regional office of NorthMarq Capital has arranged the $18.25 million refinance of Concord Park II, a 121,698-square-foot office property located at 401 E. Sonterra Blvd. in north-central San Antonio.
“San Antonio is an attractive market for our lenders and investors,” Bryan Leonard, managing director, told GlobeSt.com. “Both sides feel confident in its market fundamentals and prospects for continued economic growth.”
The transaction was structured with a 7-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with the life insurance company AIG. The property contains a credit-oriented group of tenants that is unique to the city: Baker Hughes, Microsoft, Weatherford, Liberty Mutual and Raymond James.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
