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

Aura Wycliff Apts
0000000000000000000000000674813
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, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

Image
NM Web Icon News Black

Join the mailing list