Northmarq’s Dallas office arranges joint venture equity for The Mustang in Irving, Texas

The Mustang

DALLAS, TEXAS (September 7, 2022) – Joel Heikenfeld, senior vice president/senior director and James Currell, senior vice president of Northmarq’s Dallas office negotiated the joint venture financing for the development of The Mustang, a 275-unit/Class A+ multifamily project located within the greater Dallas MSA.

“This is a repeat joint venture transaction between the LP, a REIT, and American Residential Group (ARG). We are excited to see this partnership grow,” said Heikenfeld.

“This is the last development site on Lake Carolyn and the partnership is going to deliver a best-in-class property to an area that has attracted two Fortune 500 corporate relocations in the past few months,” said Currell.

The Mustang, scheduled to be completed in 2024, is located at 601 East Las Colinas Boulevard, Irving, Texas. The project will consist of 275 residential units featuring resort-style living spaces. The Mustang will stretch the lakeside of Lake Carolyn, providing residents with exclusive views and walking trails. The expansive property will include a sky lounge, fitness studio, library, dog park & spa, 5th floor dining room, private office suites, outdoor putting green, and various high-end finishes.

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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

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