Cohen Financial has arranged a $12.2 million loan for the refinancing of the Chase Tower, an office property located at 400 Texas St. in downtown Shreveport, La. The 253,743 sq. ft. property is a stabilized office building with J.P. Morgan Chase & Co. serving as the anchor tenant.

Joseph Hevey Jr., managing director of Cohen Financial in the firm’s Dallas office, originated the 10-year, non-recourse loan with a 30-year amortization schedule. The interest rate on the loan is fixed at 5.5% for the first five years, after which time the rate will be reset. The lender is a regional bank. The borrower is a long-term Hawaii-based client of Hevey.

“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,” says Hevey.

Chicago-based Cohen Financial is a diversified mortgage banker that offers debt and equity placement, investment brokerage, loan administration and advisory services. The company has offices in nine major markets.