Northmarq arranges sale and financing of The Residence at Eagle Pass, a 180-unit multifamily property in Texas
SAN ANTONIO (May 30, 2024) — Northmarq’s San Antonio Multifamily Investment Sales team led by Zar Haro, Moses Siller, Bryan VanCura, Phil Grafe, Brian Booth, Rudy Dodier and Kevin Garza successfully brokered the sale of a 180-unit multifamily property in Eagle Pass, Texas.
Northmarq represented the seller, Leuven Group a private investor. The buyer was Revive Real Estate Investments, a San Antonio-based operator. Cheryl Higley, managing director of Debt + Equity at Northmarq, arranged acquisition financing on behalf of the buyer through Northmarq’s in-house Fannie Mae DUS team.
“Eagle Pass is experiencing significant demand and rent growth,“ Haro said. “Border markets are witnessing a surge in rents and economic activity, driven by population increases and nearshoring efforts. Nearshoring, the practice of relocating manufacturing closer to the U.S., is shifting operations from China to the U.S. and Mexico, fueling commerce between the two countries.“
Border areas like Eagle Pass benefit greatly from this trend. For example, U.S.-Mexico trade surpassed $200 billion in Q1 2024, demonstrating the strong economic ties between the nations. Industrial real estate is booming in regions such as El Paso, Ciudad Juarez, Monterrey and Piedras Negras with high demand driving up rents and spurring new construction projects. This trend is expected to continue as nearshoring gains momentum, attracting significant investments into these areas.
Built in 2010, the luxury apartment community boasts convenient and comfortable one- and two-bedroom homes. Located at 3477 Bob Rogers Drive, the pet-friendly property is less than a half mile from the Fort Duncan Regional Medical Center and close to major Eagle Pass employers.
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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.
