NorthMarq Capital arranges $19.2 million refinance of Chatham Hills Apartments in Springfield, Illinois
Chatham Hills Apts
KANSAS CITY (November 20, 2014) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City based regional office arranged refinancing of $19.2 million for Chatham Hills Apartments, a 322-unit multifamily property located in Springfield, Illinois. The transaction was structured with a 7-year term with 3-year interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Seller/Servicer relationship with Freddie mac. “As this was a refinance of an existing Freddie Mac loan, all parties involved were very familiar with the asset,” said Duvall. “Due to their familiarity with the asset, Freddie Mac provided very attractive loan terms to the borrower, even though the subject property was built in the 1970’s.”
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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.
