NorthMarq Capital arranges $25.25 million acquisition for The Cottages located in Austin, Texas
The Cottages
CHICAGO (March 19, 2014) – Jeff Frankel, senior vice president/senior director of NorthMarq Capital’s Chicago based regional office arranged acquisition financing of $25.25 million for The Cottages, a 330-unit multifamily property located in Austin, Texas. The transaction was structured with a 5-year term and 29-year amortization schedule after 30 months of interest only payments and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company. “The borrower and lender have now closed over 20 loans together,” said Frankel.
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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.
