Metro Commercial Properties Lands $7.4M Refi for Suburban Houston Asset
- Jun 17, 2020
Metro Commerical Properties has obtained a $7.4 million loan to refinance its suburban Houston office property.
Gantry arranged the 10-year loan with an amortization period of 25 years to refinance Houston Woodlands 45, a 63,373-square-foot multi-tenant office building in Spring, Texas, a northern suburb of Houston.
Gantry Principal Patrick Barkley and Senior Associate Chad Metzger completed the permanent financing with a life insurance company.
According to Yardi Matrix data, Houston Woodlands 45 came online in 2008. The development was subject to a $9.7 million Bank of America loan. The property features monument and directory signage, two lobbies and card key security system. The two-story building also includes 389 grade level parking spaces. The tenant roster includes Bankers Life and Regus, among others.
Located at 24624 Interstate 45, on 5 acres, the Class A property is 17 miles from George Bush Intercontinental Airport and about 27 miles north of downtown Houston.
In February, Gantry arranged $330 million in financing for a six-building medical office portfolio.