Multifamily - Debt

NorthMarq negotiates refinance of Hidden Oaks Apartments in San Antonio, Texas

SAN ANTONIO, TEXAS (June 20, 2019) – Bryan Leonard, senior vice president/managing director of NorthMarq’s San Antonio-based regional office arranged the refinance of Hidden Oaks Apartments. The 124-unit multifamily property is located in San Antonio, Texas. The permanent-fixed rate loan was structured with a 10-year term and included an initial interest-only provision followed by an amortizing payment schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. 

“Our client was seeking to take advantage of the low interest rate environment to refinance the property.  In a crowded market for multifamily loans, UNUM distinguished itself with competitive terms and its seasoned staff executed one of the smoothest and efficient transactions we have closed in a while,” said Leonard. “NorthMarq prides itself on representing our correspondents well and also in delivering exceptionally competitive solutions to match our clients’ business plans. This transaction exemplified that standard.”

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.