NorthMarq Capital arranges $1,324,000 permanent loan for Dorson Apartments in Kansas City, Missouri

Dorson Apts
Debt & Equity
Multi-Tenant
Multifamily
Permanent Loan - Fixed
Freddie Mac
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DENVER (October 9, 2018) – Jeff DeHarty, vice president of NorthMarq Capital’s Denver regional office, negotiated the $1,324,000 for Dorson Apartments, a 29-unit multifamily property located in Kansas City, Missouri. The transaction was structured with a 10-year term with 1-year of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower, 912Benton LLC, through the Freddie Mac SBL program.

“Dorson Apartments is a historic asset in which the seller implemented a significant capital expenditure program, thus appealing as a turnkey acquisition opportunity for our client, Mr. David North. NorthMarq was happy to assist in accommodating our client’s 1031 deadline as a function of this acquisition, which also involved affordable housing HAP contract elements,” said DeHarty. “The NorthMarq team did an excellent job of navigating a complex transaction with multiple moving parts and deadlines, and for this I am thankful,” said North. 

 

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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.
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