March 25, 2013

NorthMarq Capital's Houston office arranged $6.928 million mortgage for Casa Blanca Apartments in Dallas, Texas

Casa Blanca Apts

Debt & Equity

Multi-Tenant

HOUSTON (March 25, 2013) – John Burke, senior vice president/managing director of NorthMarq’s Houston regional office, arranged acquisition financing of $6.928 million for Casa Blanca Apartments, a 261-unit, market-rate multifamily property located at 4503 & 4539 Lake Avenue in Dallas, Texas. Financing was based on a 5-year interest-only term and was arranged for the borrower by NorthMarq through its relationship with a private investment fund. “The sponsor had a great opportunity to purchase the recently renovated property in the Oak Lawn neighborhood of Dallas that was under-performing in the market,” said Burke. “As the sponsor has a number of other projects in the area, his management team has a great knowledge of the area and will have the opportunity to create value for the property as well as the neighborhood.”

Available Multifamily properties

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.