Northmarq’s Phoenix office arranges $25.4 million acquisition of Class “A” multifamily property in San Antonio, Texas
PHOENIX, ARIZONA (October 8, 2021) – James DuMars, senior vice president/managing director of Northmarq’s Phoenix debt/equity team, arranged the $25,400,000 acquistion of a Class “A” multifamily property. The 303-unit Class “A” multifamily property is located at 5114 Medical Drive in San Antonio, Texas. The transaction was structured with a 10-year term with 5-years interest only, followed by a 30-year amortization schedule. Northmarq negotiated the permanent-fixed loan for the borrower through its Fannie Mae DUS platform.
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