Northmarq’s Debt + Equity team arranges refinance of Aria at Ella apartments in Spring, TX

SPRING, Texas — Northmarq’s Houston Debt + Equity team led by Travis Fite and Blake Butler successfully arranged the refinancing of Aria at Ella, a 136-unit garden apartment located at 20525 Ella Blvd. in Spring, Texas.

Northmarq arranged financing on behalf of the borrower, Aria Developers LLC, through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a five-year term.

“We were able to convince Fannie Mae to approve this deal on a pre-stabilized basis as the borrower has a successful track record of quickly leasing up several of its recently delivered affordable properties,” said Fite. “Our Northmarq DUS team was able to get very aggressive on loan terms and the Aria team was great to work with again in providing us the final lease up information needed to successfully close this cash-out refinance.”

Built in 2023, Aria at Ella features one- and two-bedroom floorplans featuring stainless steel appliances, heating and air conditioning, and an in-unit washer and dryer. Community amenities include a fully-equipped fitness center, gated access, breakfast/coffee concierge, after-hour maintenance, and wheelchair accessibility.

Located just minutes from Interstate 45 and Grand Parkway (99), Aria at Ella boasts close proximity to a variety of shopping, dining, parks and entertainment. It is located roughly 26 miles from downtown Houston.