Houston-Area Office Park Lands $5M Refi
ByStafford, Texas—Hunt Mortgage Group recently announced that it has provided a first mortgage bridge loan in the amount of $5 million to refinance Park Place Business Park in the Fort Bend County/Sugar Land submarket of Houston. The loan is structured as a 24?month floating rate loan with three one-year options to extend the term. Proceeds from the loan will refinance the existing first lien mortgage, reimburse shareholders for recent contributions to re?tenant the property and fund additional tenant improvements.
The borrower is Stafford Office Park II LP, sponsored by Titan Real Estate Investment Group and its principal, Kevin Kaseff. The loan was facilitated by Houston-based Q10 Kinghorn, Driver, Hough & Co. vice presidents Buddy Hopson and Travis Fite…