NorthMarq Capital arranges $25.8 million student housing bridge loan for The Trails at Wolf Pen Creek
The Trails at Wolf Pen Creek
DALLAS (Feb. 4, 2014) – Stephen Whitehead, SVP/senior director of NorthMarq Capital’s Dallas based regional office arranged refinancing of $25.8 million for The Trails at Wolf Pen Creek, located at 950 Colgate Drive, College Station, Texas. Financing for the 404-unit, 1,006 bed student housing property was structured with a 3-year term and 25-year amortization schedule with two year only interest only period. The property is located near Texas A&M University. “This project was a great opportunity for my client to capture a sub 3% rate and use the addition cash flow to upgrade the interiors of his project,” said Whitehead.
About Northmarq
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.
