NorthMarq Capital arranges financing for three multifamily properties with Freddie Mac
Avalon Cedar-Kingsridge-Lodge at Trails Edge
OVERLAND PARK (September 30, 2013) – Greg Duvall, senior vice president and managing director of NorthMarq’s Kansas City regional office, arranged financing for three Class B, market-rate multifamily properties containing a combined total of 564 units. • Avalon Cedar Place is located at 5458 Harpers Farm Road in Columbia, Maryland and contains 156 units. This acquisition financing is based on a 10-year term with 3 years interest only, then a 30-year amortization schedule. Amount of financing was not disclosed. • Kingsridge Apartments is located at 1141 NW Arlington Place in Blue Springs, Missouri, containing 140 units, was financed at $4.128 million. This acquisition financing is based on a 7-year term and a 30-year amortization schedule. This deal is an adjustable rate loan with one year of interest-only payments. • Lodge at Trails Edge is located at 9435 Benchmark Drive in Indianapolis, Indiana and contains 268 units. This supplemental financing of $1.942 million is based on a 7-year term and a 30-year amortization. NorthMarq arranged this financing for the borrowers through its seller-servicer relationship with Freddie Mac.
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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.
