NorthMarq Capital’s Dallas office arranges $13.475 million acquisition of Fort Worth multifamily via Fannie Mae Green Rewards Program
DALLAS (September 5, 2017) – NorthMarq’s Dallas regional office, arranged $13,475,000 in acquisition financing for Valencia Apartment Homes, a 263-unit multifamily property located at 7301 Ederville Road in Fort Worth, Texas. The transaction was structured with a 12-year term with 4-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing (featuring a 4.24 percent interest rate) for the borrower, Nicholas Residential, through Fannie Mae’s Green Rewards Program. NorthMarq was able to secure great terms for the borrower using Fannie Mae’s Green Rewards program. The borrower plans to continue the community’s unit enhancement program for their latest value-add acquisition while reducing utility cost for their tenants.
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.