NorthMarq Capital arranges $25.25 million acquisition for The Cottages located in Austin, Texas

The Cottages
5903a4c8-5b56-42d5-a217-d41a74e18343
CHICAGO (March 19, 2014) – Jeff Frankel, senior vice president/senior director of NorthMarq Capital’s Chicago based regional office arranged acquisition financing of $25.25 million for The Cottages, a 330-unit multifamily property located in Austin, Texas. The transaction was structured with a 5-year term and 29-year amortization schedule after 30 months of interest only payments and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company. “The borrower and lender have now closed over 20 loans together,” said Frankel.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of more than $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.