Multifamily - Debt

NorthMarq Capital’s Kansas City office arranges refinance for Independence Ridge Apartments in Independence, Missouri

KANSAS CITY (April 11, 2016) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City base regional office arranged the refinance of Independence Ridge Apartments, a 336-unit multifamily property located at 19012 East 37th Terrace South in Independence, Missouri. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac.

“This was a low leverage loan on a property that had approximately 60 percent of its units rented to residents making less than 50 percent of the area median income,” noted Duvall.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.