NorthMarq Capital’s Houston office arranges acquisition financing for Elm Grove Apartments in Kingwood, Texas
HOUSTON (March 26, 2018) – Warren Hitchcock, senior vice president/senior director of NorthMarq Capital’s Houston regional office, arranged acquisition financing for Elm Grove Apartments, a 136-unit multifamily property located in Kingwood, Texas. NorthMarq arranged financing for the borrower through its relationship with a balance sheet bridge lender. “This value-add transaction featured a very well-located property in a master planned community, and the acquisition and renovation financing was aggressively pursued and priced at higher leverage. The borrower and investors were very happy with the loan and transaction start to finish,” noted Hitchcock.
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