Multifamily
Debt & Equity

NorthMarq Capital arranges 16.3 million refinance for Trinity Place Apartments in Midland, Texas

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.

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.

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Trinity Place Apts
Debt
$16,300,000