NorthMarq Capital arranges three multifamily transactions totaling $34.43 million
DALLAS (Feb. 24, 2014) – NorthMarq’s Dallas based regional office arranged separate financing for three multifamily properties located in Texas and Georgia totaling a combined $34.43 million. All the properties were arranged by NorthMarq for the borrower through its relationship with a CMBS lender. NorthMarq was able to find best in market terms for our borrower while providing a streamlined underwriting process due to our close relationship with the lender. Alta Vista Ridge: This $25.5 million acquisition is located at 2241 South Business 121, Lewisville, Texas and contains 270 units. Financing for the acquisition was structured with a 10-year term with 3-years IO and a 30 amortization schedule. Alta Vista Ridge is in process of being rebranded as the Westmount at Vista Ridge. Briar Creek, a 160 unit property located at 893 Briar Creek Ct NE, Conyers, Ga., was refinanced at $4.097 million and structured with a 5-year term and 30-year amortization schedule. Sierra Place is a 130-unit [property located at 66 Northwood Drive NE, Atlanta, Ga. The $4.85 million refinance was structured with a 5-year term and 30-year amortization schedule.
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.
