Cohen Financial reportedly arranged a $12.2 million loan for the Chase Tower in Shreveport, LA under a 10-year, non-recourse commitment with a 30 year amortization schedule according to a National Real Estate Investor article. The borrower was only named as an Hawaii-based client of Cohen Financial and the lender listed as a regional bank, which is providing the loan at a fixed 5.5% interest rate for the first five years.
"Due to our strong lender relationships, and the fact that the borrower had increased occupancy and the value of the property, Cohen Financial was able to structure a non-recourse, cash-out refinance transaction, utilizing the office building and an adjoining parking garage for collateral," said Joseph Hevey Jr., managing director of Cohen Financial in the firm's Dallas office.
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