Northmarq’s Dallas office secures $28 million in acquisition financing for Presidio in Allen, Texas
DALLAS, TEXAS (August 31, 2022) – Kevin Leamy, senior vice president/producer of Northmarq’s Dallas office finalized $28 million in bridge financing for Presidio. The 202-unit multifamily property (built in 1986) is located at 1500 South Juniper Road, Allen, Texas. The bridge loan was structured with a 3-year interest only term. Northmarq arranged the bridge loan for the borrower through a Balance Sheet Bridge Lender.
“We are thrilled to close on the acquisition of the property that will serve as an exciting addition to Dallas’ growing portfolio of upgraded workforce housing properties,” said Leamy.
Located within the Dallas MSA, Presidio residents are in close proximity to Highway 75 and Route 399. Allen offers highly rated school districts, along with three colleges within 8 miles from the property. Presidio is situated only 4.5 miles from five community friendly parks and nature preserves.
Community amenities include: Pool with clubhouse, courtyard and picnic area, fitness center, pet play area, planned social activities, on-site maintenance, and laundry facilities. Interior amenities include: Granite countertops, fireplace, bay window, built in bookshelves, ceiling fans, and private balcony/patio.
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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.
