DALLAS, TX - The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, is pleased to announce the successful sale of Northwind Apartments, a 71-unit multifamily community located along Interstate 35 in Waco, Texas. Built in 1978, Northwind benefits from direct access and visibility along one of Central Texas's primary transportation corridors and is located less than one mile from Texas State Technical College.
Jon Krebbs represented the seller, a longtime relationship of TMG, while Angel Flores sourced the buyer, a first-time TMG client. The transaction utilized a loan assumption and preferred equity structure to help bridge the gap between the seller's pricing objectives and the realities of today's capital markets.
"Northwind was a great example of how relationships and creative deal structuring can come together to get a transaction across the finish line," said Krebbs. "We were able to work through a challenging capital markets environment and ultimately create an outcome that worked for both sides."
Flores added, "It was especially rewarding to help a new buyer navigate their first transaction with TMG. Northwind offered a compelling entry point into the Waco multifamily market, and its strong occupancy at closing and location along I-35 provided a solid foundation for the new ownership."