Multifamily
Debt & Equity

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, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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Spicewood Springs Apartment Homes
Permanent Loan - Fixed
$14,000,000