Northmarq structures $129.7M refinance of luxury Dallas multifamily tower

The Victor
luxury high-rise apartments

DALLAS — Northmarq’s Chicago Debt + Equity team, led by Kevin McCarthy, Jeff Frankel and Alex Czachor, secured a $129.7 million refinancing for The Victor, a 344-unit luxury high-rise located in the Victory Park neighborhood of Dallas, Texas. The permanent, fixed-rate loan was arranged through Northmarq’s Fannie Mae DUS platform on behalf of the joint venture between Houston-based Hines and Chicago-based Diversified Real Estate Capital.

“The top-tier sponsorship and strong market fundamentals created a very competitive process amongst lenders,” said Kevin McCarthy, managing director at Northmarq. “Fannie Mae’s aggressive pricing, structure and loan proceeds ultimately set them apart, along with their ongoing relationship with the sponsor and Northmarq.”

Completed in 2022, The Victor is a premier multifamily tower featuring top-of-market unit finishes and hospitality-inspired amenities, situated in a dynamic, rapidly transforming entertainment and employment district. The fixed-rate loan carries full-term interest-only payments, underwritten on a 35-year amortization schedule.

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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.
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