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