Northmarq’s Dallas office completes refinancing of The Xander at James Apartments in Fort Worth, Texas
DALLAS, TEXAS (March 3, 2023) — Patrick Elliott, vice president from Northmarq’s Dallas debt team, arranged the refinance of The Xander at James Apartments, a 71-unit multifamily property located at 5612 James Avenue in Fort Worth, Texas. Northmarq’s Fannie Mae DUS team was able to provide a 10-year fixed rate.
“We were able to lean on our Fannie team to deliver an execution that our client was very pleased with. This was a cash-out refinance that allowed our borrower to fix their interest rate in a volatile market while also offering an attractive flexible prepayment structure,” said Elliott.
Built in 1965, The Xander at James Apartments is a two-story, garden-style community situated just northwest of the Fort Worth central business district. The property offers studio and one-, two-, three-, and four-bedroom apartments ranging from 493 to 2,062 sq. ft. The pet-friendly community offers updated décor including large walk-in closets and modern kitchens and a quiet, relaxing exterior atmosphere with playgrounds and pergolas. Residents enjoy living near a tranquil lake with access to the city amenities. The Xander at James is located within 10 minutes from Texas Christian University and the Fort Worth Zoo and less than three minutes from three shopping centers.
Apartment amenities include: Walk-in closets, modern stainless steel appliances, vinyl flooring, large bedrooms, tub/shower, air conditioning, and high-speed internet access. Community amenities include: Laundry facilities, controlled access, video patrol, dog park, on-site property manager, grill, cabana/pergola, playground, courtyard, and on-site maintenance.
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.
