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.