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. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.