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The Drake

FHA Acquisition & Refinance

Endorsed May 29, 2024

FHA #11311550

Deal Details

Location: MIDLAND, Texas
Mortgage Amount: $41.2M
Units: 300
Program: Acquisition & Refinance
Lender: Northmarq
Fiscal Year: FY2024

Current Loan Status

Active

Outstanding Balance: $40.6M($41.2M original)
Interest Rate: 5.97%
Maturity: June 2059(33 years remaining)
Original Term: 35 years
Holder: Northmarq
Servicer: Northmarq

Source: HUD BF90 Active Insured Mortgages · Data as of February 2026

Data Sources

Endorsement data: HUD FHA Multifamily Firm Commitments and Endorsements Database

Active loan data: HUD BF90 Active Insured Mortgages, as of February 2026

hud.gov multifamily data

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