Northmarq

DALLAS — Northmarq has arranged the sale of Verge Apartments, a 217-unit multifamily property in North Dallas. Built in 1980, the complex houses studio, one- and two-bedroom units with an average size of 700 square feet. Amenities include two pools, outdoor grilling and dining areas, a fitness center, business center and onsite laundry facilities. Taylor Snoddy, Charles Hubbard, Eric Stockley and Philip Wiegand represented the seller in the transaction. Patrick Elliott and Lauren Bresky, also with Northmarq, originated Freddie Mac acquisition financing on behalf of the buyer. Both parties requested anonymity.

SAN ANTONIO — Northmarq has arranged the sale of Villa de Oro, a 150-unit apartment complex located southwest of downtown San Antonio. The property offers one- and two-bedroom units and amenities such as a pool, playground, clubhouse, basketball court and onsite laundry facilities. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented the seller, Austin-based Achieve Investment Group, in the transaction. The buyer, a locally based limited liability company, plans to implement a value-add program.

FORT WORTH, TEXAS — Northmarq has brokered the sale of The Borough Apartments, a 208-unit multifamily property in Fort Worth that was built in 1981. According to Apartments.com, the property offers one- and two-bedroom units ranging in size from 500 to 1,280 square feet. Taylor Snoddy, Eric Stockley, Philip Wiegand and Charles Hubbard of Northmarq brokered the deal on behalf of the seller. Kevin Leamy, Lauren Bresky, Daniel Stickane and Patrick Elliott, also with Northmarq, arranged a nonrecourse, floating-rate acquisition loan that carried three years of interest-only payments on behalf of the buyer. Both parties requested anonymity.

SAN ANTONIO — Northmarq has brokered the sale of Brooks Townhomes, a 135-unit multifamily property in San Antonio. Built in 1974 on the city’s south side, the property offers one- and two-bedroom units and amenities such as a pool, playground, basketball court, outdoor grilling and dining areas and onsite laundry facilities. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented the seller, Austin-based Achieve Investment Group, in the transaction. The team also procured the buyer, Los Angeles-based Convergence Capital Management, which plans to implement a value-add program.

UNIVERSAL CITY, TEXAS — Northmarq has brokered the sale of Aviation Place, a 61-unit apartment complex in Universal City, located northeast of San Antonio. According to Apartments.com, the property was delivered in 1961 and offers one- and two-bedroom units. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented the buyer, Raybec Investment Group, in the transaction. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.