NorthMarq completes refinance of Orleans at Fannin Station in Houston, Texas
HOUSTON, TEXAS (July 27, 2021) – John Burke, managing director of NorthMarq’s Houston office, arranged the refinancing of Orleans at Fannin Station. The 338-unit Class A multifamily property is located at 1818 Fannin Speedway in Houston, Texas. The transaction was structured with a 20-year term with 5 years of interest only followed by a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“The early rate lock on this pre-stabilized recently completed project met the borrowers timing goals for securing a long term, historically low fixed rate,” said Burke.
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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.
