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.”