Northmarq’s Debt + Equity deal team led by Taylor Francis, along with David Blum, Joe Giordani, Charlie Buckingham and Matt Radich, arranged the $68.76 million permanent fixed-rate financing for a three-property Class A multifamily portfolio totaling 940 units located in Houston and San Antonio, Texas.
The portfolio includes:
- Holden Heights Apartments (525 W. 24th St., Houston)
- Estancia San Miguel Apartments (13330 West Road, Houston)
- The Montecristo Apartments (215 N. Loop 1604 E., San Antonio)
Northmarq arranged financing on behalf of the borrower, Francis Property Management, through its relationship with Freddie Mac. Each loan was structured on a 10-year term with full-term interest-only payments.
Holden Heights is a 282-unit mid-rise apartment community in Houston’s highly desirable Heights neighborhood. Built in 2015, the property features one- and two-bedroom floor plans with premium finishes including hand-scraped hardwood flooring, 10-foot ceilings, granite or quartz countertops, walk-in closets, and in-unit washers and dryers. Community amenities include a resort-style swimming pool, state-of-the-art wellness center, and a beautifully landscaped courtyard. The property is conveniently located near major retail corridors, white-collar employment centers, and offers easy access to downtown Houston
Estancia San Miguel is a 300-unit garden-style community situated in Houston’s Cypress/Fairbanks submarket, offering direct access to U.S. Highway 290, Beltway 8 and Highway 6. Built in 2006, the property features one-, two- and three-bedroom floor plans. Unit features include nine-foot ceilings, crown molding, full appliance packages and private patios or balconies. Community amenities include a swimming pool, clubhouse, business center and on-site laundry facilities.
The Montecristo Apartments is a 358-unit garden-style community strategically positioned along North Loop 1604 East within San Antonio’s Far North Central submarket. Built in 2005, the property offers one-, two- and three-bedroom floor plans. Unit interiors feature full-size kitchens, garden tubs, private balconies, washer/dryer connections and fireplaces in select floor plans. The property provides immediate proximity to U.S. Highway 281 and is near major medical, retail and employment corridors including North Central Baptist Hospital and Methodist Stone Oak Hospital.
