April 11, 2016

NorthMarq Capital’s Kansas City office finalizes refinance for affordable housing in Alexandria, Virginia

Affordable Housing

Debt & Equity

Multi-Tenant

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 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.

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