NorthMarq Capital arranges 16.3 million refinance for Trinity Place Apartments in Midland, Texas
Trinity Place Apts
DENVER (July 15, 2014) – NorthMarq Capital’s Denver based regional office arranged the $16.25 million refinance of Trinity Place Apartments, a 216-unit multifamily property located in Midland, Texas. The transaction was s structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, a division of Weidner Investment Services, Inc., a Seattle-based, privately-held owner of multiple multifamily properties, through its seller/servicer relationship with Freddie Mac. Ben Kation, vice president of finance and acquisitions and Kevin Colard, senior acquisitions manager at Weidner Investment Services played a pivotal role in the completion of the transaction. Constructed in 1982, the 25, two-story buildings contain amenities such as: a clubhouse, business and fitness centers, outdoor pool, sport court, laundry building and available carports. Individual units feature built-in microwaves, walk-in closets and full-size washer/dryer connections.
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.
