NorthMarq secured the refinancing for MV Lofts in Houston, Texas
MV Lofts
HOUSTON, TEXAS (April 27, 2021) – Warren Hitchcock, senior vice president/senior director of NorthMarq’s Houston office, secured the refinancing of MV Lofts. The 42-unit, class B multifamily property is located in the Inner Loop of Houston, Texas. The transaction was structured with a 10-year term with 1-year of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.
The borrower required a higher leverage option with short term flexibility at an aggressive 3.50 percent rate,” said Hitchcock.
About Northmarq
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.
