NorthMarq Capital's Houston office arranged Refinancing for Oak Lawn Heights Apartments in Dallas, Texas
Oak Lawn Heights Apts
HOUSTON (February 21, 2013) – Tony Gray, senior director, and Kristi Johnson, assistant vice president, of NorthMarq’s Houston regional office, arranged first mortgage financing for the refinance of Oak Lawn Heights Apartments, a 137-unit market-rate multifamily property located at 2600 Arroyo Avenue in Dallas, Texas. Financing was based on a 10-year term and a 15-year amortization schedule and was arranged for the borrower, Knot Your Ordinary Apartments, LLC, through NorthMarq’s relationship with a Fannie Mae lender. “We are pleased to have arranged such attractive financing for the borrower, including a highly competitive coupon and prepayment flexibility,” said Gray. “From application to closing NorthMarq and the lender were able to execute the refinance in less than 75 days, even given record fourth quarter pipelines.”
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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 $52 billion. For more information, visit www.northmarq.com.
