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.