Multifamily - Debt

NorthMarq’s Warren Hitchcock secures acquisition financing via bridge loan for The Park at Clear Lake in Houston, Texas

HOUSTON, TEXAS (May 8, 2019) – Warren Hitchcock, senior vice president/senior director of NorthMarq’s Houston-based regional office, arranged acquisition financing of The Park at Clear Lake, a 342-unit multifamily property located on Bay Area Boulevard in Houston, Texas. NorthMarq arranged the Balance sheet bridge loan for the borrower through its correspondent relationship. 

Apartment/community amenities include:  Nearby to award-winning school district, close proximity to Space Center Houston,  near the University of Houston – Clear Lake, , picnic and barbecue areas, private and semi-private terraces, pet-friendly, clubhouse, fitness center, pool, great living space views, walk-in closets, dishwasher, disposal, kitchen facilities, oven, range, refrigerator, laundry facilities, maintenance on-site, high-speed internet access, washer/dryer hookup, air conditioning, heating, ceiling fans. 

“NorthMarq was able to bring the best balance sheet capital in the marketplace for the acquisition and reposition of this asset. The buyers can fully execute their business plan and draw additional funds when needed. This was a win/win and this lender is looking to do more in Houston,” said Hitchcock.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.