Northmarq finalizes acquisition financing for The Bammel in Houston, Texas
HOUSTON,TEXAS (October 21, 2021) – John Burke, managing director of Northmarq’s Houston office, arranged acquisition financing for The Bammel. The 132-unit, Class A multifamily property is located in Houston, Texas. The transaction was structured with a 20-year term with 15 years of interest only. Northmarq secured this permanent financing for the borrower using Northmarq’s in-house Fannie Mae team.
“Working with our Fannie Mae team, Northmarq Capital Finance, we were able to satisfy the borrowers unique request of a 20-year term with 15 years of interest only, while accommodating the timing necessary to meet a 1031 exchange,” said Burke.
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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.
