May 8, 2013

NorthMarq's Seattle office arranged $1.81 million mortgage for Highland Park Apartments in Kirkland, Washington

Highland Park Apts

Debt & Equity

Multi-Tenant

SEATTLE (May 8, 2013) – Ron Peterson, senior vice president/managing director of NorthMarq’s Seattle regional office arranged first mortgage refinancing of $1.815 million for Highland Park Apartments, a 15-unit market-rate multifamily property located at 421 Kirkland Avenue in Kirkland, Washington. Financing was based on a 15-year term and a 15-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender. “The borrower locked in a low 15-year fully-amortized loan at less than four percent on a recently renovated project,” Peterson said.

Available Multifamily properties

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.