Multifamily - Debt

Newly constructed Central Station in Evanston, Illinois receives $24 million refinancing from NorthMarq Capital

CHICAGO (January 7, 2015) – Sue Blumberg, senior vice president/managing director of NorthMarq Capital’s Chicago based regional office secured permanent financing of $24 million for Central Station, a newly constructed LEED Certified multifamily property located at 1720 Central Street in Evanston, Illinois. The property, completed in 2013, contains 81-units. The transaction was structured with a 7-year term with 2-years interest only, and a 30-year amortization schedule. NorthMarq arranged financing for the borrower, an entity related to RMK Management, through its Seller/Servicer relationship with Freddie Mac.

“This is the first new property built in Evanston’s North end, close to Metra, shopping/retail and Ryan Field of Northwestern University,” said Blumberg. “The property provides superior amenities and indoor parking.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.