HOUSTON, TX, April 16, 2010
/24-7PressRelease/ -- Richland Commercial Mortgage announced today the arrangement of a $4.5 million loan for the refinancing of Memorial Post Oak Centre, owned by MPO Centre Investors, Ltd. and located at 1110 North Post Oak Road in Houston. The 76,763-square-foot office-flex property is the corporate headquarters of The Richland Companies. Angie Steadman, President of Richland Commercial Mortgage, co-brokered the loan with Bill Haley of NorthMarq Capital's Houston office through lender Symetra Life Insurance Company.
This follows closely on the heels of a $1.5 million refinance secured for Grassmere Business Center, LLC. in Nashville, Tennessee's Grassmere Business Park, bringing Richland Commercial Mortgage's closings over the last three years to more than $117 million. "In this market, refinancing can offer new opportunities for long term strategies," says Steadman. "We fully seek to optimize terms for favorable growth for The Richland Companies as well as our clients," she adds. Richland Commercial Mortgage offers a variety of commercial lending options for Richland properties as well as third-party partners.
NOTE: High-resolution photos available upon request.
About The Richland Companies
Recently named #19 in Houston Business Journal's largest Houston Commercial Real Estate Property Owners, The Richland Companies is a privately owned real estate investment, management, brokerage, leasing, mortgage, and tenant representation firm that specializes in the acquisition and management of commercial real estate properties. The Richland Companies' portfolio includes 30 properties in four states throughout the Southwestern United States, representing almost 2 million square feet of commercially owned retail, industrial, office, office-warehouse, and office flex space, with assets valued in excess of $250 million dollars. Headquartered in Houston, Texas with offices in Dallas and San Antonio, The Richland Companies is comprised of Richland Investments, Richland Brokerage, Richland Asset Management, Richland Commercial Mortgage, Richland Leasing, Richland Tenant Representation, Richland Property Management and Richland Land Development. For additional information on The Richland Companies, please visit http://www.richlandpremier.com.
G. W. Armstrong & Associates Public Relations and Advertising is a full service public relations and marketing agency. The firm has offices in Dallas, Houston, Austin, and New York.
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