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.”
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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.
