Hines, Diversified Obtain Refi on Dallas Apartment High-Rise

Hines, Diversified Obtain Refi on Dallas Apartment High-Rise
News| August 4, 2025| Mike Boyd
Texas + Apartment Buildings

Northmarq’s 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. Built in 2020, the tower rises 39 stories.

The permanent, fixed-rate loan was arranged through Northmarq’s Fannie Mae DUS platform on behalf of the joint venture between Hines and Diversified Real Estate Capital. It carries full-term interest-only payments and is underwritten on a 35-year amortization schedule.

Completed in 2022, The Victor features a pool, fitness center, game lounge, skyline terrace and dog park. The residential community offers rents from $1,872 – $16,543, with studio through three-bedroom apartments available. The Victor also houses 9,500 square feet of retail space.

Hear how forward-thinking investors and developers are adapting their new construction, acquisition, and repositioning strategies at Connect Texas Multifamilycoming up on August 28th! Don’t miss the Buy, Build, Sell, Hold panel featuring some of the state’s most active names. Register at www.ConnectTXMF2025.com | EVENT DATE: Thursday, August 28th | VENUE: The Joule, Dallas

Other News

One Beverly Hills Reaches Milestones Ahead of Schedule

California & West + Apartment Buildings

The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...

Learn more

Metro Loft, David Werner Secure $231M Loan for Midtown East Residential Conversion

New York & Tri-State + Apartment Buildings

Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...

Learn more

Rental Affordability Declines in Most Metros, but Improved Housing Quality is a Factor

Apartment Buildings

Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up