Monthly Archives: July 2018

CLOSED: The Market at Crenshaw

Q10 KDH Vice President Ryan Watson was able to secure a 75% leverage acquisition loan for a retail property in Pasadena, TX with multiple “Big Box” tenants. The transaction closed with a 10-year term and a 5.08% interest rate through a CMBS lender. Given the caution in the retail lending environment, especially for big box tenants, Ryan was able to identify a lender who could understand the strong momentum of the market coupled with strong tenant sales to obtain a 75% of purchase price non-recourse CMBS loan.

CLOSED: West Houston Apartments

Q10 KDH Vice President Ryan Watson provided financing with a small-balance Freddie Mac loan for a multifamily property located in Houston, TX. The transaction closed with a 7-year term and a 4.68% interest rate. The Sponsor purchased a property less than two years ago, and through a planned rehab project and better property management, was able to increase the value of the property. Ryan Watson was able to pull equity from the project and provide non-recourse financing with flexible pre-payment options.

CLOSED: Town Center Plaza

Q10 KDH Vice President Emily Zarcaro provided refinancing in the amount of $7,500,000 with Silverpeak Argentic for a Class A office building located in The Woodlands, TX. The transaction closed with a 10-year term, 30-year amortization, and a 4.92% interest rate.

Emily Zarcaro stated, “Our borrower was seeking to refinance a maturing life company loan as well as pull over $3,500,000 out of the property in order to pursue other investments. Additionally, the property is currently 82% occupied due to vacant space being held for a potential expansion by the anchor tenant. We were able to achieve the cash out request through CMBS execution with minimal reserves and limited cash management provisions. Without previous CMBS borrowing experience, leasing and cash flow restrictions were among the clients’ biggest concerns. Silverpeak Argentic did an outstanding job of making the structure look like a life company loan as much as possible.”