NorthMarq Capital’s Tampa and Dallas offices collaborate to arrange acquisition financing of $9.8 million for student housing property

Pembroke Place

Debt & Equity

Multi-Tenant

DALLAS, TEXAS (July 14, 2016) – NorthMarq Capital’s Tampa-based regional office and Steve Whitehead, senior director of NorthMarq Capital’s Dallas-based regional office arranged acquisition financing of $9.8 million for Pembroke Place, a 336-bed/84-unit student housing property located in 490 Prospect Road in Pembroke, North Carolina. The transaction was structured with a 15-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower, Pembroke Place CP, LLC, through its Fannie Mae DUS program. Fannie Mae granted a waiver on the minimum school size and won the deal due to the rate and a 25-year amortization. “Start to finish, the deal closed in less than 60 days, thanks to timely responses from a skilled borrower group,” said Whitehead.

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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.