Northmarq Secures Refinancing for 199-Unit Wood River Apartments in Corpus Christi

Northmarq’s Debt + Equity team has arranged a fixed-rate refinancing package for Wood River Apartments, a 199-unit multifamily asset in Corpus Christi. The non-recourse loan, provided through the company's in-house Northmarq Edge lending program, features a five-year fixed term, full-term interest-only payments, and step-down prepayments.

Originally built in 1983, the property comprises 17 two-story buildings offering one-, two-, and three-bedroom floor plans. Residents have access to amenities including a swimming pool and pet-friendly grounds, with the borrower utilizing the new financing to maintain long-term stability for the asset, which they have held for over two decades.