NorthMarq Capital arranges $25.8 million student housing bridge loan for The Trails at Wolf Pen Creek
The Trails at Wolf Pen Creek
DALLAS (Feb. 4, 2014) – Stephen Whitehead, SVP/senior director of NorthMarq Capital’s Dallas based regional office arranged refinancing of $25.8 million for The Trails at Wolf Pen Creek, located at 950 Colgate Drive, College Station, Texas. Financing for the 404-unit, 1,006 bed student housing property was structured with a 3-year term and 25-year amortization schedule with two year only interest only period. The property is located near Texas A&M University. “This project was a great opportunity for my client to capture a sub 3% rate and use the addition cash flow to upgrade the interiors of his project,” said Whitehead.
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.
