Multifamily - Debt

Refinance through NorthMarq Capital’s Dallas office lowers debt service costs

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.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.