Northmarq’s Debt + Equity team arranges $26.1M in financing for Class A multifamily community in Sioux Falls
SIOUX FALLS, S.D. — Northmarq’s Omaha Debt + Equity team led by John Reed successfully arranged $26.1 million in financing of Foxmoor Apartments, a 350-unit Class A multifamily community located at 5007, 5009, 5005 and 5001 W. Equestrian Pl. in Sioux Falls, South Dakota.
Northmarq arranged the financing on behalf of the borrower — Samuelson Development — through the firm’s in-house Fannie Mae DUS platform. The permanent fixed-rate financing was structured on a 10-year term.
“Northmarq’s exceptional capital relationships were instrumental in arranging 10-yr fixed rate financing at an 86bp spread,” Reed said. “Fannie Mae did an outstanding job in partnering with Northmarq to deliver excellent terms.”
The transaction provides long-term financing for a well-established multifamily asset in one of the Midwest’s strongest-performing rental markets, as Sioux Falls continues to benefit from steady population growth, a diverse employment base and sustained demand for quality housing options.
Foxmoor Apartments is a garden-style multifamily community consisting of three four-story buildings. The community offers a mix of studio, one- and two-bedroom apartment homes averaging 748 square feet, as well as 2,300 square feet of commercial space.
Residents benefit from an extensive amenity package, including a 9,600-square-foot clubhouse featuring a theater, community room with a full kitchen, indoor pool, fitness center and spa. Additional amenities include an outdoor pool, guest suite, package receiving services, nightly security patrol and 24-hour emergency maintenance.
The property is also part of a larger multifamily campus owned by Samuelson Development, giving residents access to shared recreational and community spaces that further enhance the resident experience.
Situated in western Sioux Falls, the property offers convenient access to major employers, retail destinations and transportation corridors throughout the area.
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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 $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
