Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s Chicago office’s arranges acquisition financing of $24.352 million for The Avenue Apartments in Las Vegas, Nevada

CHICAGO (February 9, 2018) – Brett Hood, senior vice president and Jeff Frankel, senior vice president/senior director of NorthMarq Capital’s Chicago regional office, arranged acquisition financing of $24,352,000 for The Avenue Apartments, a 252-unit multifamily property located at 4800 East Tropicana Avenue in Las Vegas, Nevada. The transaction was structured with a 7-year term (with the first 3-years interest only) followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.

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.