Multifamily

Northmarq Capital arranged $3.175 million mortgage for West Chase Apartments in Fort Worth, Texas

LOS ANGELES (July 18, 2013) – David Blum, senior vice president and senior director of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $3.175 million for West Chase Apartments, a 160-unit, market-rate multifamily property located at 2900 Gunnison Trail in Fort Worth, Texas. Financing was based on a 5-year term with a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a CMBS lender. “This transaction provided the borrower with $2 million cash-out from loan proceeds,” Blum said.

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.