January 30, 2013

NorthMarq Capital's Houston office arranges $7.265 million mortgage for Islands of Rockport in Rockport, Texas

Islands of Rockport

Debt & Equity

Multi-Tenant

HOUSTON (January 30, 2013) – Lori Sowa, William Luedemann and Roger Trapnell of NorthMarq’s Houston-based regional office arranged construction financing of $7.265 million for Islands of Rockport located at 4440 Hwy 35 S in Rockport, Texas. The property is a single-family lot development situated on approximately 25 acres for 50 single-family residences. Financing was based on a 2-year term interest only with extension options. NorthMarq arranged this financing for the borrower through its relationship with a private investor. Loan proceeds are for infrastructure improvements for canal lots. “We started this transaction five years ago before the second home market in Texas softened,” said Sowa. “The developer had continued strong demand for the lots; however, financing became increasingly difficult. The time was right for this private investment group to fund the infrastructure improvements.”

Available Multifamily properties

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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.