Multifamily - Debt

NorthMarq Capital’s Chicago office arranges $34.56 million financing for acquisition of class “A” apartment community in Dallas, Texas

CHICAGO (August 5, 2015) – Jeff Frankel, senior vice president of NorthMarq Capital’s Chicago based regional office secured acquisition financing of $34.56 million for Aura Wycliff Apartments, a 334-unit class “A” multifamily property located at 4338 and 4343 Congress Avenue in Dallas, Texas. The transaction was structured with a full term, interest-only loan. NorthMarq arranged financing for the borrower, an Illinois based multifamily owner/manager, through its correspondent relationship with a life insurance company.

“This deal had a very short timeframe (30 days) from application to closing,” noted Frankel. “The lender that won this deal provided the borrower with competitive loan terms, along with a certainty of closing, since they have closed more than 20 loans together.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.