Francis Property Management Secures $68.7 Million Refinance For 940 Units In Houston And San Antonio

Francis Property Management secured permanent refinancing for three Class A multifamily communities totaling 940 units. The properties are located at 525 West 24th Street, 13330 West Road, and 215 North Loop 1604 East in the Houston and San Antonio markets. The refinancing amounted to $68,700,000, featuring a 10-year term with full-term interest-only payments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $68,700,000
• Units: 940
• Landlord: Francis Property Management
• Market: Houston & San Antonio, TX
• Loan Type: Refinance
• Loan Terms: 10-year term with full-term interest-only payments

NorthMarq’s Taylor Francis, David Blum, Joe Giordani, Charlie Buckingham, and Matt Radich arranged the financing for the transaction. Each team member played a key role in facilitating the loan, which was specifically aimed at securing permanent financing for the multifamily communities managed by Francis Property Management.