NorthMarq arranges $14 million refinance of Spicewood Springs Apartment Homes in Austin, Texas
Spicewood Springs Apartment Homes
AUSTIN, TEXAS (June 19, 2020) – John Morran, senior vice president/managing director of NorthMarq's Austin office locked and closed the $14 million refinance of Spicewood Springs Apartment Homes, a 248-unit apartment community constructed in 1984 and located 14 miles north of downtown Austin. Fannie Mae provided half-term interest only, no upfront recovery reserve escrows, and waiver of ongoing tax, insurance, and repair escrows for a first-time NorthMarq Capital Finance borrower.
About Northmarq
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.
