NorthMarq Capital’s Chicago office arranges $8,000,000 cash out refinance of Emerald Pointe Apartments in Vernon Hills, Illinois
CHICAGO (October 11, 2018) – Brett Hood, senior vice president of NorthMarq Capital’s Chicago regional office, arranged cash out financing of $8,000,000 for Emerald Pointe Apartments, a 120-unit multifamily property located at 695 Westmoreland Drive in Vernon Hills, Illinois. “The property resides 35 miles north of the Chicago CBD within an affluent suburban community enjoying nationally recognized schools, immediate access to world-class jobs and an abundant amount of entertainment and retail options,” said Hood.
The permanent fixed rate loan featured a 7-year term with interest-only payments throughout. The loan structure included a waiver of the carveout guarantor, waiver of escrows, with a par prepayment structure during the last 2-years. NorthMarq arranged financing for the borrower through its relationship with Fannie Mae.
Meet our team
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.
