Austin, Texas — NorthMarq has secured a $7 million refinancing for Lone Star Lofts, a 134-bed student housing community located near the University of Texas at Austin.
Robert Ranieri of NorthMarq secured the floating-rate loan on behalf of the borrower, Arlington Capital Austin, through Freddie Mac. The financing features a seven-year term and a 30-year amortization schedule. Lone Star Lofts offers studio, one-, two-, three- and four-bedroom units. Shared amenities include a swimming pool, hot tub and courtyard.