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