Wednesday, January 14, 2015

NBS Financial Delivers $11.3M Refi

NBS Financial Services’ Senior Vice President Wally Harding and Finance Officer Mick Stapleton have arranged $11.3 million in refinancing for Northpointe Office Plaza, a 108,432 sf office building. NBS Financial represented the lender, Genworth Life Insurance, as well as the borrower, Northpointe Office Building, LLC.

Northpointe Office Plaza 
Built in 1995, Northpointe Office Plaza is located at 605 E Holland Avenue, just north of downtown Spokane and part of the growing Wandermere suburb. It is fully leased with both traditional office and medical users. Over the past few years, Wandermere has become a major attraction for new office and retail development.

“The borrower had an existing loan maturing soon,” explained Wally. “Northpointe Office Plaza is a typically sought after mortgage investment for many of our lenders, especially newer properties in very good locations. As Genworth’s leading national producer for 2014, we were able to deliver the refinancing with quick turnaround.”

With the building 100% occupied and a sufficient remaining term on the tenants’ leases, Harding and Stapleton were able to structure a 20-year term and 20-year amortization.

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