Multifamily - Debt

NorthMarq Capital arranges $16.96 million acquisition financing for three property multifamily portfolio in Houston, Texas

SAN DIEGO (October 22, 2013) – Marty Meagher and Gardiner Champlin, managing directors of NorthMarq’s San Diego regional office, arranged acquisition financing of $16,965,000 for Ashwood Park, Meadowbrook and Parkside, three conventional market rate multi-family properties located in Pasadena and Humble, Texas. Financing was based on a 5-year term and a 30-year amortization schedule after 18 months of interest only. The combined deal, containing 564 units, is part of a four property acquisition from two sellers in the Houston MSA. NorthMarq arranged financing for the borrower through its relationship with a CMBS conduit lender. “The sponsor was very grateful for the diligent and timely efforts of the lender to help manage through a very complex transaction and achieve a successful closing,” said Champlin.

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.