NorthMarq Capital’s Kansas City office finalizes refinance for affordable housing in Alexandria, Virginia
Affordable Housing
KANSAS CITY (April 11, 2016) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City base regional office arranged the refinance Manchester Lakes, a 256-unit affordable housing property located at 7131 Silver Lakes Boulevard in Alexandria, Virginia. The transaction was structured with a 10-year term with 5-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. “The property was built in two phases and the subject loan was used to refinance the debt on both phases with one loan,” said Duvall. “FNMA offered extremely aggressive pricing due to the affordability component at the property and their long history with the borrower.”
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
