Multifamily - Debt

NorthMarq Capital

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.”

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.