Houston, TX / July 31, 2012 - The Houston office of Q10 Kinghorn, Driver, Hough & Co. (“KDH”), announces that it has secured $11.9 million in first mortgage refinancing for a 12-story Wells Fargo Office Building, located along the Southwest Freeway in Houston.
Working on behalf of an institutional client, KDH Vice President Travis Fite, arranged the 10-year loan with a 30-year amortization schedule through Prudential Mortgage capital.
“Prudential overcame each challenge in this deal with a solution, providing a straightforward structure, and allowing us to close and fund at a fixed rate lower than at application. This refinance, being the borrower’s first non-recourse loan, helped to alleviate some of the direct liabilities from partners’ personal financial statements.”- Travis Fite
Q10 Kinghorn, Driver, Hough & Co., is a Texas-based full service commercial mortgage banking company that arranges financing for developers and owners of commercial real estate ranging from institutional investors to individuals with one property. KDH is also a founding member of Q10 Capital, LLC which is the first national mortgage banking firm to be owned by leading independent mortgage bankers across America with a servicing portfolio in excess of $14 billion. Through ownership in Q10 Capital, KDH benefits from a national infrastructure enabling immediate access to real time financing data from across the country. KDH’s Q10 Capital affiliation provides the ability to better serve national investors with a single point of contact for financing assignments across the country.