NorthMarq completes acquisition financing for Courtyards at the Park in Lubbock, Texas

Courtyards at the Park
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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. 

 

 

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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.