NorthMarq Capital arranges financing for three multifamily properties in Texas
Three Multifamily Properties
KANSAS CITY (November 17, 2014) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City based regional office negotiated the $103.669 million refinance of three multifamily properties in Texas. The properties contain a combined 872-units and are located in Pearland, McKinney and Katy, Texas. NorthMarq arranged financing for the borrower through its Seller/Servicer relationship with Freddie Mac. “The borrower was looking to refinance their existing bank debt and pull out some cash equity on these assets,” said Duvall. “Freddie Mac did a great job of providing very attractive loan terms on this pool of newly constructed and recently stabilized, class “A” multifamily assets. Two of these assets were financed with 10-year fixed rate loans with 5-years interest only. The third asset was financed with a 7-year variable loan with 3-years interest only
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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.
