Woodlands Business Park

Property Name: Woodlands Business Park
Location: Houston, TX
Property Type: Mixed Use
Transaction Type: Acquisition Financing
Loan Amount: Undisclosed
Details: "Our assignment was to refinance a maturing loan and return cash to the borrower after recent property upgrades and lease-up. The owners were also looking to fix the interest rate for a 10-year term but wanted flexible prepayment unlike yield maintenance or defeasance that the typical CMBS lender provides. After accessing multiple sources on the borrowers behalf, we were successful in securing the loan from one of our correspondent life insurance companies. Even with several oil related tenants and less than stable operating history for the property, we were able to secure what I believe is a very attractive loan in the low 4% range."
More Info: Larry Peters at 713-871-5812 or contact me