NorthMarq Arranges Loan for Refinancing of 338-Unit Apartment Community in South Houston

by Taylor Williams

HOUSTON — NorthMarq has arranged a loan of an undisclosed amount for the refinancing of Orleans at Fannin Station, a 338-unit apartment community located south of downtown Houston. The Class A property features one- and two-bedroom units and amenities such as a pool with cabanas, social lounge with a catering kitchen, clubroom with a flat-screen TV, package lockers with refrigeration capabilities and an internet café. John Burke of NorthMarq arranged the fixed-rate loan, which carried a 20-year term with five years of interest-only payments followed by a 30-year amortization schedule, through an undisclosed life insurance company. The borrower was also not disclosed.

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