Northmarq arranges bridge loan for newly built San Antonio multifamily community

SAN ANTONIO — Northmarq’s Phoenix and Las Vegas Debt + Equity teams, led by Michael Wyne and Tyler Woodard, secured financing for Istana at Wurzbach, a newly constructed 324-unit multifamily development in San Antonio, Texas.

Northmarq arranged refinancing on behalf of the borrower. The bridge loan was structured on a three-year term.

“We were able to structure this new loan for our client as he commenced lease up, enabling him with a fresh interest reserve and loan term to stabilize the asset and refinance to Agency/HUD,” said Wyne. “It was a challenging deal to place, but through Northmarq’s broad capital markets network and correspondent relationships we were positioned to meet our client’s capital needs successfully.”

Built in 2024, Istana at Wurzbach is located at 4462 Wurzbach Road, offering residents convenient access to major retail centers, outdoor recreation and dining destinations.

The newly built, garden-style apartment community features one- and two-bedroom apartment homes with sleek finishes, granite countertops, stainless steel appliances and more. Residents enjoy resort-style amenities, including a pool, clubhouse, private work-from-home spaces, 24-hour fitness center, pickleball court, CrossFit-inspired outdoor fitness area, bark park and scenic walking trails.