DALLAS AND HOUSTON — NorthMarq Capital has secured $25.75 million in financing for two Texas properties. In Dallas, Scott Frank of NorthMarq’s Dallas regional office arranged $19 million in construction/permanent financing for Sam Moon Center Alliance, a 165,400-square-foot retail property located within Hillwood’s Alliance Town Center mixed-use development. The loan carries a 15-year, fixed-rate term with interest-only payments during the construction period, and a 20-year amortization schedule thereafter. The borrower was undisclosed, and the lender was Prudential Mortgage Capital Co.
In Houston, Greg Duvall of NorthMarq’s Kansas City regional office arranges $6.75 million in first-mortgage financing for Fountains of Westchase, a 287-unit multifamily property. Terms of the loan include a 7-year term with 2 years interest-only and a 30-year amortization schedule. The loan also contains a variable rate with an embedded cap provided by the lender, Freddie Mac. The borrower was ELP Simon.
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