DALLAS (September 5, 2017) – Suzanne Jones, senior vice president/senior director of NorthMarq Capital’s Dallas regional office, arranged $13,475,000 in acquisition financing for Valencia Apartment Homes, a 263-unit multifamily property located at 7301 Ederville Road in Fort Worth, Texas. The transaction was structured with a 12-year term with 4-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing (featuring a 4.24 percent interest rate) for the borrower, Nicholas Residential, through Fannie Mae’s Green Rewards Program.
“We were able to secure great terms for the borrower using Fannie Mae’s Green Rewards program.” said Jones. “The borrower plans to continue the community’s unit enhancement program for their latest value-add acquisition while reducing utility cost for their tenants.”