$3.5M Financing Package Clears for Midland Apartment Owner

MIDLAND, TX-A limited partnership uses a 358-unit complex in Midland to secure a loan for nearly $3.5 million. NorthMarq Capital's Denver office arranged the financing package, the borrower's fifth for its Texas holdings.

By Tim Green | March 13, 2002 at 01:01 AM

Greg Benjamin, vice president of NorthMarq's Denver office, arranged the financing for the borrower, the Park at Caldera Associates LP. The lender who provided the financing has completed four previous transactions in Texas for the borrower. The Midland area, one of the main energy-business centers in Texas, has lost about 2,300 jobs in the 12-month period ending in October 2001.

The Minneapolis-based NorthMarq Capital is a national real estate investment banker providing financing for commercial real estate including office, retail, industrial, multifamily and assisted living development.

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