Northmarq’s Debt + Equity team arranges $8.291M acquisition financing for Blue Ridge Place apartments

KANSAS CITY, Mo. — Northmarq’s Los Angeles Debt + Equity team led by Zalmi Klyne successfully arranged the $8.291 million acquisition financing of Blue Ridge Place, a 168-unit garden apartment community located at 11418 Blue Ridge Blvd in Kansas City, Missouri.

Northmarq arranged financing on behalf of the borrower, Casa Del Sol Texas LLC, through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a five-year term.

“Acquisition happened during a volatile credit and rate period,” Klyne said. “Although we had significant movement in rates we were able to deliver a loan amount higher than our initial app.”

Bult in 1967, Blue Ridge Place features one- and two-bedroom units. It features on-site parking, high speed internet, laundry facilities, on-site maintenance, picnic area, clubhouse, grill, fitness center, pool and playground.

It boasts a convenient location near the intersection of Interstates 49 and 470 near Longview Road. It is minutes away from restaurants, entertainment, shopping and public transportation, and it is 16 miles south of downtown Kansas City.