November 20, 2014

NorthMarq Capital arranges $19.2 million refinance of Chatham Hills Apartments in Springfield, Illinois

Chatham Hills Apts

Debt & Equity

Multi-Tenant

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 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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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