The borrower is Greenway-4641 Production LP, a group of Dallas-Ft. Worth investors. The permanent financing was arranged by Minneapolis-based NorthMarq Capital Inc.'s Dallas team of Bill Jackson, senior vice president and managing director, and Stephen Whitehead, assistant vice president and producer. The 10-year loan carries a 30-year amortization at a 7.7% interest rate.
The industrial property sits on 2 1/2 acres near the hospital district and Market Center. The two-building holding, constructed in 1974, is a commercial storage facility with blocks for 65 tenants.
The deal, Jackson tells GlobeSt.com, was "challenging because there were no major tenants, but there were a lot of tenants." The 10-year loan was a refinance of existing debt.
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