December 10, 2012
Transwestern today announced that it has arranged a $51,000,000 loan secured by a 313,203-square-foot office complex located along the Sam Houston Tollway. Transwestern’s Jan Sparks, managing director – structured finance, and Michael Snodgrass, managing director – structured finance, organized the financing.
According to Sparks, “This was a very complex transaction with multiple structures of underling debt that had to be simultaneously consolidated into one loan structure. The loan defeasance and the interest rate cap auction were further complicated by the arrival of Hurricane Sandy in New York City which forced the closure of the bond market for several days.”
Snodgrass went on to say, “Transwestern has integrated its service lines to include real estate investment banking offering a comprehensive range of structured finance product lines. Our mortgage banking professionals’ knowledge and experience in the capital markets creates an unparalleled fully integrated commercial real estate platform to better serve our clients.”
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 150 offices in 30 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern. Follow Transwestern’s Houston office on Twitter: @TranswesternHOU.