Hines, Diversified Obtain Refi on Dallas Apartment High-Rise

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 28^th! 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 28^th | VENUE: The Joule, Dallas