Multifamily - Debt

NorthMarq Capital arranges new construction loan of $10,460,726 for Seaside Landing Apartments in Ingleside, Texas

NEW YORK CITY (April 20, 2015) – Elliot Auerbacher, vice president of NorthMarq Capital’s New York Metro based regional office finalized a small market construction loan of $10,460,726 for Seaside Landing Apartments, a 120-unit multifamily property located at Highway 361 and Main Street in Ingleside, Texas. The transaction was structured with a 5-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national bank.

“The lender made accommodations to meet the borrower’s requests,” noted Auerbacher.

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.