News

$6.5 Million Financed for Bay Terrace Office Building

Bay Terrace II - Cover Photo[4]

Michael Kelly and Michael Stordahl of Q10 Realty Mortgage & Investment Company arranged through coordination with the Houston Q10 Capital Partner, Q10 KDH, $6.5 million in financing for Bay Terrace multi-tenant office building located in Houston, Texas. The financing was provided by a correspondent life insurance company who provided a 15-year fixed-rate loan.

“This loan was a long-term fixed rate with an existing client that holds commercial real estate assets for long term income and value appreciation. The Loan was call protected for the loan term but offered flexible prepayment options to the borrower.” – Michael Kelly