Northmarq arranges agency debt financing for the Oasis Apartments in Dallas, Texas
DALLAS, TEXAS (April 3, 2023) — James Currell, senior vice president, along with Kyle Summerford, vice president in Northmarq’s Dallas debt/equity office, arranged agency financing for a bridge loan takeout on the Oasis Apartments in Dallas, Texas on behalf of Willowood Group. The property was built in 1971 and contains 506 units. Northmarq’s in-house Fannie Mae DUS team assisted with the placement of the permanent-fixed loan which was structured with a seven-year term.
“Our sponsors were repeat Fannie Mae borrowers, and our Fannie Mae DUS team was able to move quickly to provide a streamlined rate lock execution during a particularly volatile time in the capital markets,” said Currell. “They were also able to offer higher proceeds with a 35-year amortization and their rate buy down program.”
Over the course of Willowood’s ownership, Northmarq has provided bridge financing, equity, and permanent financing solutions for the Oasis Apartments.
Located at 9690 Forest Lane, Oasis Apartments offers a convenient location with southern charm. Residents have easy access to Interstate 635, making traveling to local dining, shopping, and entertainment effortless. The pet-friendly community offers studio, one-, two-, and three-bedroom apartment homes, with the option for a balcony or patio, breakfast bar, and walk-in closets. Community amenities include: Assigned and covered parking, clubhouse, easy access to freeways and public transportation, gated access, guest parking, and high-speed internet access.
For more information on the Dallas multifamily market, view Northmarq’s Dallas-Fort Worth Q4 Multifamily Market Report.
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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 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.
