NorthMarq Capital’s Phoenix office arranges $18.2 million refinance of class “A” multifamily property in Plano, Texas
The Encore Apts
PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix regional office secured the $18.2 million refinance of The Encore Apartments, a 240-unit class “A” multifamily property located at 4700 Tribeca Lane in Plano, Texas. The transaction was structured with a 10-year interest only loan. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. “The borrower wanted to refinance their existing 5-year interest-only loan with a new 10-year interest-only loan to capitalize on interest rates while they were still low,” explained DuMars. "This luxury property is located in an upscale area of the Legacy Business Park in North Plano, Texas. The 2,665 acre business park consists of major tech employers including Hewlett Packard, Ericcson, Intel, Intuit, Tyler Technologies and Crossmark, to name a few.”
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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.
