Multifamily - Debt

NorthMarq Capital

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. 

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.