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 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.
