Northmarq completes $8.4 million refinance of Oaks 5th Street Crossing at City Station in Garland, Texas
Multifamily Property
MINNEAPOLIS, MINNESOTA (August 27, 2021) – Northmarq’s Minneapolis office collaborated with Stephen Whitehead, senior vice president/managing director of Northmarq’s Dallas office to arrange the $8.4 million refinance of Oaks 5th Street Crossing at City Station. The 188-unit multifamily property, built in 2009, is located at 351 North 5th Street in Garland, Texas. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
