NORTHMARQ ARRANGES $8.2M SUPPLEMENTAL FINANCING FOR HOUSTON APARTMENTS

by admin

HOUSTON — NorthMarq Capital has arranged $8.2 million in supplemental financing for two multifamily properties in Houston totaling 650 units. The assets include Retreat at Steeplechase, which is located at 11245 West Road and offers one- to three-bedroom apartments; and Retreat at Steeplecrest, which is located at 11220 West Road and offers one- and two-bedroom apartments. Greg Duvall of NorthMarq worked on behalf of the unnamed borrower to secure the financing through AmeriSphere Multifamily Finance LLC, a Fannie Mae DUS lender. The supplemental loans were placed in conjunction with the buyer’s assumption of the existing first mortgage debt.

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