(To read more on the debt and equity markets, click here.)
HOUSTON-Taking advantage of a continued low interest rate beforeit increases again, Cable Lock Inc. has obtained $3.7 million topay off a construction loan for its 39,818-sf headquarters projectin the northwest submarket. The borrower leveraged the deal at a75% loan-to-value ratio.
"The building was a partial build-to-suit for Cable Lock andthey leased out portions of it. It's currently 90% occupied," saysDavid Aaronson of Houston-based Live Oak Capital Ltd., who teamedwith Kevin Holland to arrange the loan through Jefferson PilotFinancial Insurance Co. of Greensboro, NC. The structure, assessedat $3.96 million, rose in 2004 at 8400 N. Sam Houston ParkwayWest.
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