Northmarq secures $17.3M refinance for Villa Creek Apartments in Farmers Branch, TX

FARMERS BRANCH, Texas (Feb. 25, 2025) — Northmarq’s Phoenix Debt + Equity team, led by Michael Wyne and Tyler Woodard, successfully arranged the $17.3 million refinance of Villa Creek Apartments, a 161-unit multifamily community in Farmers Branch, Texas.

The financing was secured on behalf of a Texas-based owner through Northmarq’s correspondent relationship with a CMBS conduit lender. The transaction was structured with a five-year term and featured a 4-point buy-down, which provided higher proceeds than agency financing — eliminating the need for a cash-in refinance.

“This structure allowed us to maximize loan proceeds beyond Agency options, giving the borrower a more flexible and beneficial refinance solution,” said Wyne. “This transaction exhibited firsthand Northmarq’s commitment to servicing our clients as trusted advisors, as we worked in tandem with the borrower through lease up and stabilization for close to a year prior to closing.”

Villa Creek Apartments, located at 2835 Villa Creek Dr., offers one-, two- and three-bedroom apartment homes near North Dallas’ major employment hubs, shopping, and dining. Residents enjoy modern amenities, including hardwood floors, walk-in closets and on-site laundry facilities.