NorthMarq Capital arranges refinance of Cabana West Apartments in Panama Beach, Florida
Cabana West
KANSAS CITY (November 19, 2014) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City based regional office arranged financing for Cabana West Apartments, a 268-unit multifamily property located in Panama Beach, Florida. 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 affiliation with Fannie Mae DUS lender, AmeriSphere Multifamily Finance, LLC. “This was a refinance of an existing AmeriSphere/FNMA floating rate loan that was originated in 2013,” said Duvall. “The borrower wanted to pull some additional equity out of the deal and place permanent fixed-rated financing on the subject property.”
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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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
