Northmarq finalizes $7.5 million refinance of Oaks Estates of Coppell in Coppell, Texas

DALLAS, TEXAS (October 11, 2021) – Stephen Whitehead, senior vice president/managing director of Northmarq’s Dallas office collaborated with Northmarq’s Minneapolis office to arrange the $7.5 million refinance of Oaks Estates of Coppell. The 56-unit class B+ multifamily property (built in 2005) is located at 253 Club Circle in Coppell, Texas. The transaction was structured with a 10-year term on a 30-year amortization schedule. Northmarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.  

Community amenities include: Pool, fenced lot, grill, trash pick-up (curbside), recycling, clubhouse, fitness center, property manager on site, maintenance on site and laundry facilities. Apartment amenities include: High speed internet access, washer/dry hookup, air conditioning, heating, ceiling fans, cable ready, tub/shower, sprinkler system and framed mirrors.