Refinance through NorthMarq Capital’s Dallas office lowers debt service costs
Pleasant Run Apts
DALLAS – (May 12, 2015) Paul C. Brighton, senior vice president/senior director of NorthMarq Capital’s Dallas based regional office arranged refinancing for Pleasant Run Apartments, a 240 unit multifamily property located at 2525 West Pleasant Run Road in Lancaster, Texas. The high leverage/very low interest rate loan was structured with a 10-year term with 2-years interest only. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “NorthMarq was able to substantially lower debt service costs for a long-time and valued client while maximizing loan proceeds and providing a few years of interest only,” noted Brighton. “The loan was originated through a CMBS lender and NorthMarq will service the loan for the duration of the term.”
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
