October 22, 2013

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

Multifamily Portfolio

Debt & Equity

Multi-Tenant

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.

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.