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.”