Multifamily - Debt & Equity

NorthMarq arranges debt and equity financing via Freddie Mac for acquisition of multifamily property in Mesa, Arizona

DALLAS, TEXAS (November 23, 2020) – NorthMarq’s Dallas office team of Jeff Erxleben, executive vice president/regional managing director, Joel Heikenfeld, senior vice president, and Lauren Bresky, senior vice president arranged debt and equity for the acquisition of a recently capitalized multifamily property in Mesa, Arizona. The property was built in 1986 and contains 582 units. NorthMarq’s collaborative corporate platform raised equity from private foreign capital who closed within 30 days.

According to Erxleben, “NorthMarq’s collaborative corporate platform raised equity from private foreign capital, who closed within 30 days, which supported the sponsor’s timing and business plan.” 

The transaction was secured with a 80 percent LTV Floating Rate Freddie Mac loan, allowing NorthMarq to increase proceeds and decrease the interest rate during the closing process. 

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 $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.