NorthMarq Capital negotiates acquisition financing of $23.28 million for Braesridge Apartments in Houston, Texas
DALLAS (June 25, 2015) – NorthMarq’s Dallas based regional office arranged acquisition financing of $23.28 million for Braesridge Apartments, a 542 unit multifamily property located at 11100 Braesrdige Drive in Houston, Texas. The transaction was structured with a 10-year term with 3-years interest only followed by a 30 year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac. NorthMarq was able to secure fantastic terms on this great value-add opportunity for our client. The team at NorthMarq Capital and Freddie Mac met every deadline for the client to ensure a timely closing at full proceeds regardless of the fluctuating treasuries.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
