HOUSTON, TEXAS (July 13, 2021) – Larry Peters, senior vice president of NorthMarq’s Houston office, arranged the refinancing of Rocky Falls. The 34-unit garden-style multifamily property is located in Richmond, Texas. The transaction was structured with a 7-year term on a 30-year amortization schedule. NorthMarq secured the permanent-fixed rate loan for the repeat borrower through its relationship with an agency lender.
“NorthMarq was able to negotiate a cash-out refinance and reduction in the previous interest rate with an attractive 3.26 percent rate,” noted Peters.