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.
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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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
