NorthMarq Capital’s Chicago office arranges $34.56 million financing for acquisition of class “A” apartment community in Dallas, Texas
Aura Wycliff Apts
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.”
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
