AUSTIN, TEXAS (April 22, 2022) – Northmarq’s Austin debt/equity office secured acquisition financing of $3,605,000 for Mission South Apartments. The 27-unit multifamily property (built in 1972 and renovated in 2019) is located at 711 Eberhart Lane in Austin, Texas. The transaction was structured with a 3-year term with 1-year of interest only. Northmarq arranged the permanent-fixed loan for the borrower through its relationship with a regional commercial bank.
Located in the Garrison Park neighborhood, residents from the property are conveniently located within 7.6 miles of three institutions of higher learning (Austin Community College, St. Edward’s University, and Austin Community College). Additionally, there are three shopping centers within a half mile, and five natural areas/parks within 6.7 miles.
Community amenities include: Laundry facilities, fenced lot, sundeck, courtyard, grill and picnic area. Apartment amenities include: High-speed internet access, air conditioning, ceiling fans, smoke free environment, tub/shower, framed mirrors, granite countertops, dishwasher, refrigerator, microwave, hardwood floors, large bedrooms, walk-in closets and double pane windows.