Northmarq finalizes acquisition financing of $3,605,000 for Mission South Apartments in Austin, Texas
AUSTIN, TEXAS (April 22, 2022) – Northmarq’s Austin debt/equity office secured acquisition financing of $3,605,000 for Mission South Apartments. The 27-unit multifamily property (built in 1972 and renovated in 2019) is located at 711 Eberhart Lane in Austin, Texas. The transaction was structured with a 3-year term with 1-year of interest only. Northmarq arranged the permanent-fixed loan for the borrower through its relationship with a regional commercial bank.
Located in the Garrison Park neighborhood, residents from the property are conveniently located within 7.6 miles of three institutions of higher learning (Austin Community College, St. Edward’s University, and Austin Community College). Additionally, there are three shopping centers within a half mile, and five natural areas/parks within 6.7 miles.
Community amenities include: Laundry facilities, fenced lot, sundeck, courtyard, grill and picnic area. Apartment amenities include: High-speed internet access, air conditioning, ceiling fans, smoke free environment, tub/shower, framed mirrors, granite countertops, dishwasher, refrigerator, microwave, hardwood floors, large bedrooms, walk-in closets and double pane windows.
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. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
