Senior / Assisted Living
Debt & Equity

NorthMarq's Seattle office arranged $9.27 million mortgage for two independent and assisted living communities

SEATTLE (August 21, 2013) – Stuart Oswald, senior vice president and managing director of NorthMarq’s Seattle regional office, arranged first mortgage refinancing of $9.271 million for two independent and assisted living communities – one in Granbury, Texas and the other in Frisco, Texas. The facilities contain a combined total of 140 units. Financing was based on a 4-year term and a 25-year amortization schedule and was arranged for the borrower, a Washington-based operator who manages seven facilities on the West Coast and Texas, by NorthMarq through its relationship with regional bank. “This loan allowed for conversion of assisted living units to memory care units in the Granbury, Texas facility. The loan also allows for a $500,000 performance based earn-out,” said Oswald. “NorthMarq was pleased to be able to retire the existing loan with a new loan with a coupon over 200 bps below the rate of the existing loan.”

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.

1ae74d87-c144-4bb4-8658-a20c33fe4a85
Texas Portfolio
Debt
$9,271,000