Northmarq Capital arranged $3.175 million mortgage for West Chase Apartments in Fort Worth, Texas
West Chase Apts
LOS ANGELES (July 18, 2013) – David Blum, senior vice president and senior director of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $3.175 million for West Chase Apartments, a 160-unit, market-rate multifamily property located at 2900 Gunnison Trail in Fort Worth, Texas. Financing was based on a 5-year term with a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a CMBS lender. “This transaction provided the borrower with $2 million cash-out from loan proceeds,” Blum said.
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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.
