FORT WORTH—A couple of transactions have hit the books recently as other parts of the state are making bigger headlines. One is a multifamily acquisition loan and the other is an office lease.
Acquisition financing was secured for the Valencia Apartment Homes, a 263-unit multifamily property located at 7301 Ederville Rd. The property offers affordable rents and low utility rates for the workforce in and around Fort Worth.
The $13.47 million transaction was structured with a 12-year term with four years of interest only followed by a 30-year amortization schedule. Suzanne Jones, senior vice president/senior director of NorthMarq Capital's Dallas regional office, arranged financing for the borrower, Nicholas Residential.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
