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Northmarq Provides $129.7M Agency Loan for Refinancing of Dallas Apartment Tower

by Taylor Williams

DALLAS — Northmarq has provided a $129.7 million Fannie Mae loan for the refinancing of The Victor, a 39-story apartment tower in the Victory Park area of Dallas. Completed in 2022, The Victor features studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and floor-to-ceiling windows, as well as built-in desks in select residences. Amenities include a pool, fitness center, game lounge, skyline terrace and a dog park. The Victor also houses 9,500 square feet of retail space. Kevin McCarthy, Jeff Frankel and Alex Czachor of Northmarq originated the financing, which was structured with a fixed interest rate and a 35-year amortization schedule, on behalf of the borrower, a joint venture between Houston-based Hines and Chicago-based Diversified Real Estate Capital.

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AcquisitionsNorthmarqTexas

Northmarq Arranges Sale of 11,000 SF Medical Office Building in Bastrop, Texas

by Taylor Williams

BASTROP, TEXAS — Northmarq has arranged the sale of an 11,000-square-foot medical office building in the Central Texas city of Bastrop. Texas Oncology occupies the facility, which was originally built in 2009, on a triple-net basis. Jeff Matulis, Toby Scrivner and David Annett of Northmarq represented the seller, Dallas-based Blue Drake Capital, in the transaction and procured the buyer, Maple Street Management. Jada Purchase, also with Northmarq, arranged an undisclosed amount of acquisition financing for the deal.

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Northmarq Provides $19.2M Agency Loan for Refinancing of Apartment Complex in Hershey, Pennsylvania

by Taylor Williams

HERSHEY, PA. — Northmarq has provided a $19.2 million Fannie Mae loan for the refinancing of Rosedale Apartments, a 160-unit apartment complex in Hershey, located just outside of Harrisburg. Built on 30 acres in 1972, Rosedale offers one- and two-bedroom units and amenities such as a pool, fitness center, dog park, tennis court and common green spaces. John Banas and Kris Wood of Northmarq originated the 10-year loan on behalf of the borrower, locally based investment firm Boyd Wilson.

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Northmarq Provides $20.1M Agency Loan for Refinancing of Apartment Complex in Lancaster, Pennsylvania

by Taylor Williams

LANCASTER, PA. — Northmarq has provided a $20.1 million Fannie Mae loan for the refinancing of Pioneer Woods, a 160-unit apartment complex in Lancaster, about 80 miles west of Philadelphia. Built on 30 acres in 1974, Pioneer Woods offers one-, two- and three-bedroom apartments, as well as two-bedroom townhomes. Amenities include two playgrounds, a grilling and picnic area, pet stations and common green spaces. John Banas and Kris Wood of Northmarq originated the 10-year loan on behalf of the borrower, locally based investment firm Boyd Wilson.

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Northmarq Provides $14M Agency Loan for Refinancing of Upstate New York Apartment Community

by Taylor Williams

ROCHESTER, N.Y. — Northmarq has provided a $14 million Fannie Mae loan for the refinancing of Windsor Gardens, a 296-unit apartment community in Rochester. Built in 1972 and renovated in 2002, Windsor Gardens offers studio, one-, two- and three-bedroom units. Amenities include a fitness center, conference room, clubhouse, video library and onsite laundry facilities. Robert Ranieri of Northmarq originated the 10-year loan on behalf of the borrower, an entity doing business as Windsor Associates LP.

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Northmarq Provides $12.9M Agency Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Northmarq has provided a $12.9 million Fannie Mae loan for the refinancing of a 35-unit apartment building located at 49 Ludlow St. in Manhattan’s Lower East Side that was originally constructed in 2000. According to Apartments.com, the elevator-served building offers two- and three-bedroom units, with private terraces available in select residences, as well as onsite laundry facilities. Tom Peloquin led the Northmarq team that originated the 10-year loan on behalf of the borrower, an entity doing business as The Downtown Apartments LLC.

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LoansMultifamilyNew YorkNortheastNorthmarq

Northmarq Provides $50M Agency Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Northmarq has provided a $50 million Fannie Mae loan for the refinancing of Tompkins Square Plaza, a 124-unit apartment building located at 190 E. 7th St. in Manhattan’s East Village area. The transit-served, doorman-equipped building was originally constructed in 1998 and offers two- and three-bedroom units, as well as a fitness center and rooftop terrace. Tom Peloquin led the Northmarq team that originated the 10-year loan on behalf of the borrower, The Downtown Apartments LLC.

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AcquisitionsMultifamilyNorthmarqTexas

Quannah Partners, VaultCap Sell 114-Unit Multifamily Property in Waxahachie, Texas

by Taylor Williams

WAXAHACHIE, TEXAS — A partnership between Denver-based Quannah Partners and Dallas-based VaultCap Partners has sold The Townhomes at Bluebonnet Trails, a 114-unit multifamily property located in the southern Dallas suburb of Waxahachie. The property offers three- and four-bedroom residences with private patios/balconies as well as various outdoor amenities. Eric Stockley, Taylor Snoddy and Charles Hubbard of Northmarq arranged the sale of the property. The buyer and sales price were not disclosed.

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LoansMultifamilyNew JerseyNortheastNorthmarq

Northmarq Arranges Four Loans Totaling $68.5M for Refinancing of Two Jersey City Apartment Complexes

by Taylor Williams

JERSEY CITY, N.J. — Northmarq has arranged four loans totaling $68.5 million for the refinancing of CityLine East and West, two apartment complexes totaling 342 units in Jersey City. For CityLine East, which was built in 2021 and totals 198 units, Northmarq arranged a $34 million senior loan and an $8 million mezzanine loan. For CityLine West, which was completed in 2019 and totals 144 units, Northmarq placed a $21.5 million senior loan and a $5 million mezzanine loan. Both properties offer studio, one- and two-bedroom units. All loans carried fixed interest rates. John Banas and Kris Wood of Northmarq arranged the debt on behalf of the borrower, The PRC Group. The direct lenders were not disclosed.

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LoansMultifamilyNorthmarqTexas

Northmarq Provides $43.4M Agency Loan for Refinancing of Metro Houston Apartment Complex

by Taylor Williams

PEARLAND, TEXAS — Northmarq has provided a $43.4 million Freddie Mac loan for the refinancing of Avenues at Shadow Creek Ranch, an apartment complex located in the southern Houston suburb of Pearland. According to Apartments.com, the property was built in 2013 and totals 300 units. Residences come in one-, two- and three-bedroom floor plans, and amenities include a pool, fitness center, outdoor grilling and dining stations, game room and a car care center. Greg Duvall led the Northmarq team that originated the seven-year, fixed-rate loan. The borrower was not disclosed.

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