NorthMarq Capital arranges $13 million refinance for Multifamily Portfolio in Wichita Falls, Texas

Multifamily Portfolio
LOS ANGELES (September 9, 2015) – Rob Hervey, executive vice president/managing director and Mark Dodson, vice president of NorthMarq Capital’s Los Angeles office arranged the $13 million refinance of a three property multifamily portfolio consisting of 588 units and located at 3611 & 4515 Maplewood Ave, 4700 Taft Blvd, Wichita Falls, Texas. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. Although the properties are privately owned, the transaction was complicated by the fact that a large number of units were occupied by students from Midwestern State University and the school year roll-over occurred in the middle of the refinancing process. Established in 1922, the 255-acre campus of Midwestern State University is located in the city’s residential area. The University was recognized by US News and World Report’s list of “10 Public Schools with the Cheapest Out-of-State Tuition.” “The lender’s team worked closely with the borrower’s team to have the most current information to avoid significant changes in the terms,” noted Hervey. “This situation, along with market volatility, created a huge challenge in closing by the hard existing loan maturity date.”

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:

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