NorthMarq Capital arranges financing for three multifamily properties in Texas
Three Multifamily Properties
KANSAS CITY (November 17, 2014) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City based regional office negotiated the $103.669 million refinance of three multifamily properties in Texas. The properties contain a combined 872-units and are located in Pearland, McKinney and Katy, Texas. NorthMarq arranged financing for the borrower through its Seller/Servicer relationship with Freddie Mac. “The borrower was looking to refinance their existing bank debt and pull out some cash equity on these assets,” said Duvall. “Freddie Mac did a great job of providing very attractive loan terms on this pool of newly constructed and recently stabilized, class “A” multifamily assets. Two of these assets were financed with 10-year fixed rate loans with 5-years interest only. The third asset was financed with a 7-year variable loan with 3-years interest only
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
