April 8, 2015

NorthMarq Capital arranges $32.6 million in acquisition financing for Corbin Crossing Apartments in Overland Park, Kansas

Corbin Crossing Apts

Debt & Equity

Multi-Tenant

KANSAS CITY (April 8, 2015) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City based office arranged acquisition financing of $32.6 million for Corbin Crossing Apartments, a 298-unit multifamily property located at 6801 W. 138th Terrace in Overland Park, Kansas. The transaction was structured with a 7-year term with 2-years interest only followed by a 30-year amortizations schedule. NorthMarq arranged financing for the borrower through its Seller-Servicer relationship with Freddie Mac. “This deal was the latest in a long line of repeat business between the sponsor, Freddie Mac and NorthMarq Capital,” said Duvall. “The borrower took advantage of Freddie Mac’s index lock program and by doing so was able to remove the bulk of their interest rate risk shortly after the deal was under application.”

Available Multifamily properties

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.