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NorthMarq Arranges $11.4M in Acquisition Financing for Lubbock Apartments

Metropolitan-Apartments-Lubbock-Texas

Metropolitan Apartments in Lubbock totals 236 units. The property is located about six miles from Texas Tech University.

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.

 

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