Innovative Capital Advisors Provides Loan For Office At 2440 Texas Pkwy, Missouri City

An undisclosed amount of acquisition financing has been arranged for a 64,132-square-foot office building located at 2440 Texas Pkwy in Missouri City, Texas, a southwestern Houston suburb. The property was 91 percent leased at the time of the loan closing, with Wells Fargo as the anchor tenant. The loan, arranged by Matt Franke of NorthMarq, carried a nonrecourse loan structure with a 10-year term and a 25-year amortization schedule, facilitated through Innovative Capital Advisors on behalf of the undisclosed borrower.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Undisclosed
• Address: 2440 Texas Pkwy, Missouri City, TX
• Market: Missouri City
• Borrower's Rep: Matt Franke (NorthMarq)
• Lender: Innovative Capital Advisors

Matt Franke of NorthMarq represented the borrower in securing the acquisition financing for the office building in Missouri City. The loan, structured as nonrecourse with a 10-year term, aimed to support the property acquisition and take advantage of the building's high occupancy rate at the time of closing, with Wells Fargo as the significant tenant.