Multifamily - Debt

NorthMarq arranges $14 million refinance of Spicewood Springs Apartment Homes in Austin, Texas

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. 

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.