April 11, 2016

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

Independence Ridge Apts

Debt & Equity

Multi-Tenant

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.

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.