NorthMarq arranges acquisition financing of $22.585 million for The Lakes at Renaissance Park in Austin, Texas

The Lakes at Renaissance Park

Debt & Equity

Multi-Tenant

AUSTIN, TEXAS (July 5, 2020) – NorthMarq’s Orlando office secured acquisition financing of $22,585,000 for The Lakes at Renaissance Park. The 308-unit multifamily property is located at 14000 Renaissance Court in Austin, Texas. The transaction was structured with a 10-year term with 3-years of interest only followed by a 30-year amortization schedule. NorthMarq secured financing for the borrower through its status as an OPTIGO Freddie Mac lender.

NorthMarq’s Orlando office arranged the permanent-fixed loan with assistance from Matt Counts in NorthMarq’s Austin office. “This asset was a great find for the sponsor team in a vibrant submarket of Austin. Freddie Mac was a perfect fit for this deal structure which included full proceeds and 3-years of interest only,” said Counts.

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About Northmarq

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.