NorthMarq Capital arranges refinancing of $251,317,000 for 12-property multifamily portfolio
KANSAS CITY (July 9, 2018) – Greg Duvall, senior vice president & managing director of NorthMarq Capital’s Kansas City regional office, arranged refinancing of $252,317,000 for a 12-property multifamily portfolio in the Kansas City and Dallas markets totaling 3,165-units. The transaction was structured with a 15-year term (with 10-years interest only) on a 30-year amortization schedule.
According to Duvall, “This financing request represented a unique opportunity to provide a sizeable amount of capital to Price Brothers, whom we’ve had the honor of working with for over thirty years.” Price Brothers, one of Kansas City’s premier multifamily sponsors, is also one of the largest real estate owners in Kansas City,
“Fannie Mae offered very attractive financing that was well aligned with Price Brothers’ long-term investment horizon. The 15-year terms with generous I/O and very competitive pricing enabled Fannie to win the business,” said Duvall. “Not only did Fannie deliver on their quote, they actually improved the loan proceeds and spread during the rate lock and final underwriting process.”
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
