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.
Mary Terry of Mary Terry & Associates in Ada is 2013 president-elect. Kacy Bell of Keller Williams Realty in Tulsa is treasurer. Chuck Harris of Century 21 All-Pro Realty in Oklahoma City is secretary.
PSM Holdings Inc. closings listed
Oklahoma City-based PSM Holdings Inc. — ticker PSMH, over the counter — through its wholly owned subsidiary PrimeSource Mortgage Inc., reported 351 closings for a total loan volume of $61,773,458 in October. Jeffrey Smith, president and CEO of PSMI, said, “In particular, I am happy to see our purchases transactions, which comprise 53 percent of our total closings, remain strong and well ahead of the national average.”
Kathy Pledger named escrow officer
Kathy Pledger has been promoted to escrow officer with First American Title's Deep Fork Team, 5609 N Classen, Suite 101. She formerly worked with a national real estate broker and a local lender and has an extensive background in escrow.