Northmarq‘s Chicago Debt + Equity team, led by Kevin McCarthy, Jeff Frankel, and Alex Czachor, secured a $129.7 million refinancing for The Victor, a 344-unit luxury high-rise located in the Victory Park neighborhood of Dallas, Texas.
The permanent, fixed-rate loan was arranged through Northmarq’s Fannie Mae DUS platform on behalf of the joint venture between Houston based – Hines and Chicago based – Diversified Real Estate Capital.
“The top-tier sponsorship and strong market fundamentals created a very competitive process amongst lenders,” said Kevin McCarthy, managing director at Northmarq. “Fannie Mae’s aggressive pricing, structure and loan proceeds ultimately set them apart, along with their ongoing relationship with the sponsor and Northmarq.”
Completed in 2022, The Victor is a premier 39-story multifamily tower featuring top-of-market unit finishes and hospitality-inspired amenities, situated in a dynamic, rapidly transforming entertainment and employment district.
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 $78 billion and a three-year transaction volume of $69.5 billion.
