NorthMarq completes acquisition financing for Courtyards at the Park in Lubbock, Texas
Courtyards at the Park
HOUSTON, TEXAS (May 17, 2021) – Larry Peters, senior vice president of NorthMarq’s Houston office, arranged acquisition financing for Courtyards at the Park. The class C+ garden-style apartments contain a combined 103 units and are located in Lubbock, Texas. The transaction was structured with a 2-year interest-only term. NorthMarq the bridge loan through its relationship with a bridge/mezzanine lender.
“The lenders were very competitive to quote this multifamily acquisition/rehab deal which included funding 100 percent of the rehab budget,” said Peters.
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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.
