Multifamily - Debt

Randall Waddell of NorthMarq’s Louisville office secures acquisition financing of $2,270,000 for Dundee Place Apartments

LOUISVILLE, KENTUCKY (February 7, 2019) – Randall Waddell, senior vice president of NorthMarq’s Louisville-based regional office arranged acquisition financing of $2.27 million for Dundee Place Apartments, a 20-unit multifamily property located at 2242 Dundee Road in Louisville, Kentucky. The transaction was structured with a 7-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.

Dundee Place was developed in 2014 as an in-fill rental apartment project situated in a highly desirable single-family residential neighborhood steps from the Douglass Loop in Louisville’s Highlands. Fully leased, the development features nine foot ceilings, granite countertops, and modern appliances.

“Although life company and small-cap Freddie Mac quotes were attained, the out of state Purchaser elected to accept bank financing with very attractive fixed-rate pricing along with prepayment flexibility,” said Waddell. 

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 more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.