Northmarq’s Kansas City office arranges $16.5 million acquisition financing for Highland Ridge Apartments in Manhattan, Kansas
KANSAS CITY, KANSAS (March 28, 2022) – Greg Duvall, senior vice president/managing director of Northmarq’s Kansas City office, arranged $16.5 million acquisition financing for Highland Ridge Apartments for CRES Management. The 240-unit multifamily property is located at 509 Stone Drive, Manhattan, Kansas and is comprised of both market rate & LIHTC units. The transaction was structured with a 7-year term with 2-years interest only followed by a 30-year amortization scheduled. Northmarq secured the permanent-floating loan for the borrower through its status as a Freddie Mac Optigo lender.
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