Multifamily - Debt

NorthMarq Capital arranges permanent finance of $3,350,000 for Bay Meadows in Friendswood, Texas

DENVER (February 19, 2013) – NorthMarq’s Denver regional office arranged financing of $3,350,000 for Bay Meadows, a 122-unit multi-family community located at 17201 Blackhawk Blvd. in Friendswood, Texas. Constructed in 1983, the 1, 2, and 3 bedroom units are contained in 11 residential buildings. Community amenities consist of outdoor pool with BBQ area, clubhouse, and playground. Some units feature fireplaces, built-in bookshelves, balconies/patios, and washer/dryer connections. Unit upgrade options are available which include designer tile, crown molding, light fixtures, plumbing, as well as resurfaced cabinets and countertops. Paul Bruder, Senior Vice President; and Dan Lucchesi, Investment Analyst, arranged the financing for the borrower.

Northmarq is an industry-leading 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 an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.