KANSAS CITY (January 2, 2015) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City based regional office completed the $19.95 million refinance of Grand Villas at Tuscan Lakes, a 206-unit multifamily property located at 1800 S. Egret Bay Boulevard in League City, Texas. The transaction was structured with a 10-year term with 5-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Seller/Servicer relationship with Freddie Mac.
“Freddie Mac provided very attractive refinancing terms to the borrower due to the high quality of the asset, strong property operations and their more than 20 year relationship with the sponsor,” said Duvall.
