Northmarq arranges sale, financing of three-community portfolio in Dallas, Texas
DALLAS — Northmarq’s Dallas Multifamily Investment Sales team led by Taylor Snoddy, Eric Stockley and Charles Hubbard, in collaboration with its Debt + Equity team led by Kevin Leamy and Lauren Bresky, successfully arranged the sale and financing of three multifamily communities totaling 471 units in Dallas.
- Everton at Bellmar | 10588 Stone Canyon Rd.
- Riverfalls at Bellmar | 10570 Stone Canyon Rd.
- Waterford at Bellmar | 7879 Riverfall Dr. (pictured above)
Northmarq represented the seller, Dallas-based investment group. The buyer was a New York-based investment group.
“Multifamily opportunities in Preston Hollow are exceedingly rare,” Snoddy said. “This portfolio presented an exceptional chance to establish scale in one of Dallas’ premier neighborhoods — an area defined by strong demand, limited supply, and high barriers to entry.”
Northmarq arranged permanent-fixed financing on behalf of the borrower through the firm’s in-house Fannie Mae DUS platform. Each transaction was structured on a seven-year term.
“We facilitated the closing using our in-house Fannie Mae platform and were able to generate full term interest only loans while maintaining competitive leverage,” said Leamy.
All three properties are adjacent to each other in the popular North Dallas neighborhood. Tucked with close proximity to U.S. Highway 75 access, they are nearby food, shopping, arts and entertainment. The properties are roughly nine miles north of downtown Dallas.
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