Category Archives: Office

$26.1M Financed for Texas Office Portfolio

Emily Zarcaro, Vice President at Q10 KDH, arranged $26.1 million in non-recourse financing with Silverpeak Argentic for a portfolio of single-tenant office buildings located across Texas. Emily worked on behalf of the borrower to secure a 10-year, fixed-rate loan with 5 years of interest only payments.

“This loan was interesting because of so many unique components and moving parts,” Emily said. “Our borrower sponsor is a foreign national with extensive experience overseas in commercial real estate. In conjunction with a local partner, our borrower team is building an investment portfolio in the U.S. We were happy to secure debt that financed the acquisition of several State of Texas-occupied buildings while simultaneously refinancing three other properties that were previously owned in cash. Silverpeak Argentic closed in a timely manner, and I look forward to working with both sides of this transaction again.”

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.”