NorthMarq arranges acquisition financing of $22.585 million for The Lakes at Renaissance Park in Austin, Texas
AUSTIN, TEXAS (July 5, 2020) – NorthMarq’s Orlando office secured acquisition financing of $22,585,000 for The Lakes at Renaissance Park. The 308-unit multifamily property is located at 14000 Renaissance Court in Austin, Texas. The transaction was structured with a 10-year term with 3-years of interest only followed by a 30-year amortization schedule. NorthMarq secured financing for the borrower through its status as an OPTIGO Freddie Mac lender.
NorthMarq’s Orlando office arranged the permanent-fixed loan with assistance from Matt Counts in NorthMarq’s Austin office. “This asset was a great find for the sponsor team in a vibrant submarket of Austin. Freddie Mac was a perfect fit for this deal structure which included full proceeds and 3-years of interest only,” said Counts.
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.
