Northmarq Arranges Acquisition Financing for 1,134-Unit Multifamily Portfolio in Houston

by Taylor Williams

HOUSTON — Northmarq has arranged an undisclosed amount of acquisition financing for a portfolio of three multifamily assets totaling 1,134 units that are located throughout the metro Houston area. Sedona Square is a 250-unit property that was built in phases in the early 1980s and offers one-, two and three-bedroom apartments. Verano was constructed in 1980 and totals 312 units in one- and two-bedroom formats. Rock Creek at Hollow Tree, also constructed in 1980, comprises 572 residences in one-, two- and three-bedroom floor plans. James Currell, Joel Heikenfel and Emily Balazi of Northmarq arranged the debt through an undisclosed bridge/mezzanine lender on behalf of the borrower, Dallas-based WindMass Capital.

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