NorthMarq Arranges $11.4M in Acquisition Financing for Lubbock Apartments
LUBBOCK, TEXAS — NorthMarq Capital has arranged $11.4 million in acquisition financing for Metropolitan Apartments, a 236-unit multifamily community in Lubbock. The property is located at 6402 Albany Ave. near South Plains Mall, about six miles from Texas Tech University. Carl Pankratz of NorthMarq Capital arranged the financing on behalf of the borrower, EBG Acquisitions, a Plano-based multifamily investment firm. The transaction was structured with a bridge loan.