Northmarq arranges $68M refinancing of two multifamily properties in Houston MSA
HOUSTON (Dec. 11, 2024) — Northmarq’s Kansas City Debt + Equity team led by Greg Duvall, managing director, secured the refinance of two multifamily communities located in Katy and Pearland, Texas with a combined 506 units.
Northmarq arranged the refinance of Waterstone at Cinco Ranch and Avenues at Shadow Creek on behalf of the borrower as a long-standing Freddie Mac Optigo lender.
“Freddie priced these two refinances very aggressively based on their familiarity with the collateral package and their 25-year history with this very experienced sponsor,” said Duvall.
The permanent fixed-rate loans were structured on 7-year terms.
Located at 6855 S. Mason Rd. in Katy, Texas, Waterstone at Cinco Ranch offers spacious one-, two- and three-bedroom apartment homes. The pet-friendly community boasts a resort-style pool, state-of-the-art fitness center and a car care center.
Avenues at Shadow Creek Ranch features luxurious interiors and upscale amenities located at 12501 Broadway St. in Pearland, Texas. Residents may choose from one-, two- and three-bedroom floor plans with granite countertops, stainless-steel appliances and attached one- and two-car garages.
Northmarq’s Kansas City office recently announced the $42 million acquisition financing for a 250-unit apartment complex in Overland Park, Kansas. Learn more about Northmarq’s Freddie Mac financing offerings here.
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