Warren Hitchcock, senior vice president senior director of NorthMarq Capital’s Houston regional office, arranged refinancing for Havenwood Office Park, consisting of 240,000 sq. ft. located on Interstate 45 in The Woodlands submarket north of Houston. NorthMarq was able to provide the borrower with non-recourse refinancing of the construction debt through a balance sheet bridge lender which allowed a much more aggressive lease-up strategy and potential for spec office suites.

“The developers on the Havenwood property took a contrarian view to the Houston office market and started construction despite the recent oil downturn. Construction has been completed and the Havenwood Office Park is leasing up with strong velocity as The Woodlands office market recovers faster than the rest of Houston,” said Hitchcock. “Although the Houston office market has its struggles, the lender recognized the unique opportunity on this asset and market, and was very flexible in order to provide a win/win solution for both parties.”

About NorthMarq Capital

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information, please visit www.northmarq.com.