NorthMarq Capital arranged $7.55 million mortgage for Spice Creek in San Antonio, Texas
Spice Creek
PHOENIX – NorthMarq Capital's Phoenix regional office arranged acquisition financing of $7.55 million for Spice Creek located in San Antonio, Texas. The asset is a 192-unit class "B" market-rate multifamily property that was built in 1986. Financing was based on 10-year term with 24 months interest only followed by a 25-year amortization period. NorthMarq arranged this financing for a repeat borrower through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS Lender.
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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.
