Northmarq’s Debt + Equity team arranges $2M refinancing for South Dakota apartments
Grand Teton Estates
Northmarq’s West Palm Beach Debt + Equity team led by David Gahagan and Chandler Kaye secured the $2 million refinancing of low-rise apartment community located in Brandon, South Dakota.
Northmarq arranged the financing on behalf of their borrower, Metastone, through Freddie Mac SBL. The transaction was structured on a seven-year term, including three years of interest-only payments.
Built in 1990 and renovated in 2020, the 32-unit multifamily property features one- and two-bedroom apartments. Located in Sioux Falls MSA, Brandon is one of the region’s fastest-growing submarkets.
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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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
