(To read more on the debt and equity markets, click here.)
NORTH RICHLAND HILLS, TX-A private investor from North Texas hasplaced new debt against the 152-unit Emerald Park Apartments justas a loan that he assumed eight years ago was about to expire. The$4.73 million of fresh capital keeps cash flow constant at a lowerinterest rate and replenishes the till from a steady stream ofrenovations.
Nomura Securities Co. of New York City bested a field of 10lenders vying for the nod of the Southlake investor, whosecollateral is a 95%-leased, 21-year-old complex at 8341 EmeraldHills Way. The 10-year financing cleared with a 72% loan-to-valueratio and 5.78% fixed-rate interest, Jason Rice with Dallas-basedQuantum First Capital LP, tells GlobeSt.com. He adds that the rateand "ease of execution" put the refinancing into Nomura's bank ofloans.
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