ST. LOUIS — Northmarq has originated a $10 million Freddie Mac loan for the refinancing of The Vineyards, a 426-unit multifamily property in St. Louis. The community consists of 19 buildings that were constructed in 1973 and renovated in 2002. David Garfinkel of Northmarq secured the fixed-rate loan on behalf of the undisclosed borrower. Kohner Properties Inc. manages the community.
DALLAS — Northmarq has brokered the sale of Wyndham on the Creek, a 150-unit multifamily property in North Dallas. Built in 1984, the property offers one- and two-bedroom units that range in size from 603 to 1,100 square feet and are furnished with washer and dryer hookups, granite countertops and private balconies/patios. The amenity package comprises a pool, clubhouse, business center and onsite laundry facilities. Taylor Snoddy, Eric Stockley, Charles Hubbard and Philip Wiegand of Northmarq brokered the deal. The buyer was a partnership between two Dallas-based firms, Realty Capital Partners and Windmass Capital. The seller were not disclosed.
CORPUS CHRISTI, TEXAS — Northmarq has arranged the sale of Indigo Apartments, a 220-unit multifamily property in Corpus Christi. According to Apartments.com, the property was built in 1969 and offers studio, one-, two-, three- and four-bedroom floor plans. Amenities include a pool, fitness center, business center, playground and a dog park. Moses Siller of Northmarq represented the seller, 3CM Multifamily, in the transaction. The buyer and sales price were not disclosed.
DUNCANVILLE, TEXAS — Northmarq has brokered the sale of Candlelight Park, a 128-unit apartment complex in Duncanville, a southwestern suburb of Dallas. Built in 1980, the property offers one-, two- and three-bedroom units ranging in size from 688 to 1,078 square feet. Amenities include a playground and onsite laundry facilities. Taylor Snoddy, Eric Stockley, Philip Wiegand and Charles Hubbard of Northmarq represented the undisclosed seller in the transaction. Kevin Leamy, also with Northmarq, arranged fixed-rate Freddie Mac acquisition financing on behalf of the buyer, which was also not disclosed.
HONDO, TEXAS — Northmarq has arranged the sale of Las Palomas Apartments, a 108-unit multifamily property located in the western San Antonio suburb of Hondo. Built in 1995, the property offers two- and three-bedroom units and amenities such as a playground, dog park and onsite laundry facilities. Zar Haro, Moses Siller, Bryan VanCura, Phil Grafe and Brian Booth of Northmarq represented the seller, Lonestar Springs, in the transaction and procured the buyer, Revive Real Estate. Cheryl Higley of Northmarq also arranged acquisition financing on behalf of Revive Real Estate.
DALLAS — Northmarq has provided an undisclosed amount of Fannie Mae financing for Oasis Apartments, a 506-unit multifamily community in North Dallas. The seven-year, fixed-rate bridge loan carries a 35-year amortization schedule and takes out existing debt. Oasis Apartments features one-, two- and three-bedroom units, with private balconies/patios available in select residences. Amenities include a pool, fitness center, clubhouse, picnic areas and a playground. James Currell and Kyle Summerford of Northmarq originated the financing on behalf of the borrower, locally based investment firm Willowood Group.
DALLAS — Northmarq has arranged the sale of Grand Seasons Apartment Homes, a 144-unit multifamily complex in North Dallas. The property was built in 1978 and offers one- and two-bedroom units. Amenities include a pool, fitness center, outdoor grilling and dining areas and a dog park. Taylor Snoddy, Charles Hubbard and Eric Stockley of Northmarq brokered the deal. The buyer and seller were not disclosed. The new ownership plans to implement a value-add program.
NEW YORK CITY — Northmarq has arranged a $26 million loan for the refinancing of an 11-story, 90-unit apartment complex in East Harlem. Chuck Cotsalas and Robert Delitsky of Northmarq arranged the financing though Nationwide Life Insurance Co. on behalf of the undisclosed borrower. The loan carried a 20-year term, 25-year amortization schedule and a fixed interest rate of 5.4 percent.
REPUBLIC, MO. — Northmarq has brokered the $10.1 million sale of Pinewood Park and Spring Hills in Republic, about 13 miles southwest of Springfield. The 133-unit multifamily property is located at 1600 Windmill Way. Built in 2002, the garden-style community features floor plans that range from 758 to 1,130 square feet. Amenities include a pool, sundeck, package service and laundry facilities. Dominic Martinez, Parker Stewart, Alex Malzone and Anthony Martinez of Northmarq represented the seller, a regional investor. A Midwest-based private investor was the buyer.
HACKENSACK, N.J. — Northmarq has arranged $62 million in construction financing for a 270-unit multifamily project that will be located at 321 Main St. in the Northern New Jersey community of Hackensack. The seven-story building will include a two-level parking garage and 8,700 square feet of retail space. The unit mix will comprise 20 studios, 189 one-bedroom apartments and 61 two-bedroom units. The amenity package will consist of a fitness center, dog walking area, multiple terraces and elevated courtyards and a multi-purpose clubroom. Valley Bank and Fulton Bank provided the financing. The borrower is an affiliate of New Jersey-based developer The Hampshire Cos. Completion is scheduled for the fourth quarter of 2024.
