Northwind Apartments Sold in Waco

The Multifamily Group facilitated the sale of the 71-unit apartment complex located in Waco.

Updated on Oct. 6, 2026 in Commercial

Screen-print poster illustration of a modern multifamily apartment complex, rendered in bold mustard and teal tones. — The Northwind Apartments in Waco, a 71-unit multifamily complex, have been sold following a transaction managed by The Multifamily Group. AI Illustration. Upload story photo >

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The Northwind Apartments, a 71-unit complex situated along Interstate 35, have been sold. The property is located less than one mile from Texas State Technical College.

Why it matters

The deal utilized a loan assumption and preferred equity structure to bridge the gap between the seller's pricing goals and current capital market conditions.

Constructed in 1978, the Northwind Apartments comprise 71 units and are positioned less than one mile from Texas State Technical College along the Interstate 35 corridor.

The players

The Multifamily Group

This is a real estate brokerage firm based in Dallas that specializes in the sale of apartment properties.

Jon Krebbs

He is a professional who represented the seller during the transaction of the Northwind Apartments.

Angel Flores

He is a broker who acted on behalf of the buyer during the sale process.

The details

The transaction involved a specialized financing structure that allowed the sale to proceed despite challenging capital market realities. Brokers from The Multifamily Group managed the deal, with Jon Krebbs representing the seller and Angel Flores sourcing the buyer.

The Northwind Apartments were constructed in 1978.
The transaction closed in October 2026.

Culture Shift

The use of loan assumptions and preferred equity marks a pivot toward more complex financial engineering in response to rising interest rate environments. This shift reflects a broader adjustment in how private investors navigate the aging multifamily housing stock across the United States.

For local residents, the sale of the property may eventually lead to changes in management or planned renovations of the 1978-built complex. Prospective tenants should monitor the property for updates regarding rental availability and updated lease terms following the ownership transfer.

The takeaway

Commercial real estate investors are increasingly relying on complex financial structures to close deals in the current market. Sellers and buyers must remain flexible with equity terms to ensure transactions can successfully clear despite high interest rates.