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.”