DALLAS – (May 12, 2015) Paul C. Brighton, senior vice president/senior director of NorthMarq Capital’s Dallas based regional office arranged refinancing for Pleasant Run Apartments, a 240 unit multifamily property located at 2525 West Pleasant Run Road in Lancaster, Texas. The high leverage/very low interest rate loan was structured with a 10-year term with 2-years interest only. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender.
“NorthMarq was able to substantially lower debt service costs for a long-time and valued client while maximizing loan proceeds and providing a few years of interest only,” noted Brighton. “The loan was originated through a CMBS lender and NorthMarq will service the loan for the duration of the term.”