Multifamily
Debt & Equity

NorthMarq Capital’s Phoenix office arranges $18.2 million refinance of class “A” multifamily property in Plano, Texas

PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix regional office secured the $18.2 million refinance of The Encore Apartments, a 240-unit class “A” multifamily property located at 4700 Tribeca Lane in Plano, Texas. The transaction was structured with a 10-year interest only loan. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. “The borrower wanted to refinance their existing 5-year interest-only loan with a new 10-year interest-only loan to capitalize on interest rates while they were still low,” explained DuMars. "This luxury property is located in an upscale area of the Legacy Business Park in North Plano, Texas. The 2,665 acre business park consists of major tech employers including Hewlett Packard, Ericcson, Intel, Intuit, Tyler Technologies and Crossmark, to name a few.”

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.

The Encore Apts
Debt
$18,200,000