Multifamily

NorthMarq Capital’s Dallas office arranges $13.475 million acquisition of Fort Worth multifamily via Fannie Mae Green Rewards Program

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.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.