Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s Houston office arranges acquisition financing for The Breakers Apartments in Texas City, Texas

HOUSTON (November 7, 2018) – Warren Hitchcock, senior vice president of NorthMarq Capital’s Houston regional office, arranged acquisition financing for The Breakers Apartments, a 272-unit multifamily property located Southeast of Houston, Texas. The transaction features a 5 year full interest only loan term up to 80 percent of costs, including all Improvement and Cap Ex Funds. NorthMarq arranged financing for the borrower on behalf of its unique relationship with the bridge lender.  

“NorthMarq once again continued to prove its value by utilizing their deep market knowledge, and by persistently pursuing every possible capital source which ultimately obtained the best terms in the market for their client,” said Hitchcock. “Relationships matter, and it was clear this lender stretched proceeds and terms for the NorthMarq relationship.” 

 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.