Matt Franke Of NorthMarq Arranges $10.5M Loan For Industrial Property In Houston

The West Little York Trade Park, an industrial property located at 6989 W Little York Rd in Houston, TX, encompasses 120,900 square feet of space. The property, built in 2020, comprises 15 single-tenant buildings of diverse sizes ranging from 7,000 to 11,875 square feet. The refinancing deal for this property amounted to $10.5 million and was facilitated by Matt Franke of NorthMarq through an undisclosed regional bank.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $10,500,000.00
• Borrower's Representative: Matt Franke (NorthMarq)
• Lender: Undisclosed Regional Bank

The borrower's identity and further specifics regarding the refinancing deal remain undisclosed. Matt Franke, representing NorthMarq, played a pivotal role in arranging the nonrecourse, fixed-rate loan structured with 18 months of interest-only payments. The involvement of an undisclosed regional bank illustrates the collaborative effort of key individuals and entities in this transaction.