Real estate notes
Real estate notes
Dallas-based Metropolitan Capital Advisors has arranged a $63-million permanent fixed-rate mortgage for the new Boeing Corp. regional headquarters, 6001 S Air Depot Blvd. The non-recourse loan represented a 70-percent loan to value. Senior directors Todd McNeill and Sunny Sajnani arranged 10-year financing at a fixed interest rate of 4.85 percent. The deal has one year of interest-only payments and 30-year amortization.
Proceeds were used to retire debt, fund tenant improvements, fund closing costs and provide equity to the sponsor. Oklahoma City's Gardner Tanenbaum Group designed and built the Boeing properties, a four-story building in 2007 and a larger six-story building that opened in June to accommodate many of Boeing's workers being relocated from the West Coast and Kansas.
OKC foreclosure rates up
Foreclosure rates in the Oklahoma City area increased in September compared with September 2011, according to Santa Ana, Calif.-based CoreLogic. Data shows the rate of foreclosures among outstanding mortgage loans was 2.44 percent, compared with 2.19 percent the same month the year before. Foreclosure activity in Oklahoma City was lower than the national rate, which was 3.25 percent in September.
Realtors group installs officer
Joe Pryor, an associate of Redbud Realty in Edmond, has been installed as 2013 president of the Oklahoma Association of Realtors. He is a past president of the Edmond Board of Realtors and a past director of the Oklahoma City Multiple Listing Service.
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