40
HOUSTON — NorthMarq Capital has arranged a total of $41.2 million in first-mortgage financing for two Houston apartment communities. A $29.2 million loan was secured for The Promenade at Jersey Village, a 596-unit property, and a $12 million loan was secured for The Promenade at Cullen Park, a 264-unit community. Both loans carry 10-year terms, with 2 years interest only, and 30-year amortization schedules. The lender was Freddie Mac. Brant Smith of NorthMarq's Houston office arranged both loans.