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