April 29, 2013

NorthMarq Capital arranged $11.76 million mortgage for Cold Storage Lofts in Kansas City, Missouri

Cold Storage Lofts

Debt & Equity

Multi-Tenant

OVERLAND PARK (April 29, 2013) – Greg Duvall, senior vice president and managing director of NorthMarq’s Kansas City regional office, arranged first mortgage refinancing of $11.76 million for Cold Storage Lofts, a renovated 224-unit affordable housing property located at 500 E. 3rd Street in Kansas City, Missouri. The asset is located in the historic River Market area adjacent to downtown Kansas City. This 6-story building was constructed in 1922 as a refrigerated warehouse and converted to 224 loft-style apartments in 2007. The property features underground parking with a rooftop swimming pool and jogging track. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through Freddie Mac’s Targeted Affordable Housing Program.

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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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