NorthMarq secured the refinancing for MV Lofts in Houston, Texas

MV Lofts
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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. 

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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 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 www.northmarq.com.