Multifamily - Debt

NorthMarq Capital

NorthMarq Capital arranged $29.25 million mortgage for Regency Place in Oakbrook Terrace, Illinois

CHICAGO (January 14, 2013) – Sue Blumberg, senior vice president and managing director of NorthMarq’s Chicago Regional office, arranged first mortgage refinancing of $29.25 million for Regency Place, a 112-unit market-rate multifamily property located at 2003 S. Meyer Road in Oakbrook Terrace, Illinois. There are also 3 commercial tenants located at the site. Financing was based on a 7-year term with the first 2 years interest only and then a 30-year amortization schedule. The rate was well below 3.5% fixed rate. NorthMarq arranged this financing for the borrower, Regency Place Owner, LLC, through its seller-servicer relationship with Freddie Mac. “The borrower is a well-established, longtime repeat Freddie Mac borrower,” said Blumberg. “They were able to maximize the term of the loan to fit their investment requirements.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.