Multifamily - Debt

NorthMarq Capital arranges long-term permanent financing for multifamily property in Houston, Texas

HOUSTON (May 28, 2015) – Tony Gray and Kerry French, managing directors of NorthMarq Capital’s Houston based regional office arranged a permanent, capped ARM loan for Elan Medical Center, a 281 multifamily property located at 7010 Staffordshire in Houston, Texas. The transaction was structured with a 7-year term featuring 3-years of interest only payments, followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac.

“Elan Medical Center is a unique new community which capitalizes on its close proximity to the Texas Medical Center, one of Houston’s largest job creators. The borrower and their pension fund partner plan to hold this core investment for the foreseeable future. The new financing provides a low-rate, long-term solution to accommodate their objective.” said French.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.