Student Housing - Debt

Dennis Williams arranged $20 million mortgage for Ironwood Multifamily Portfolio in Lawrence, Kansas

SAN FRANCISCO (February 25, 2013) – Dennis Williams, SVP/managing director of NorthMarq’s San Francisco-based regional office, arranged acquisition financing of $20 million for the Ironwood Multifamily Portfolio. The portfolio consists of four off-campus student housing properties located in Lawrence, Kansas near the University of Kansas. They are the Park West Gardens, Ironwood Court Apartments, Remington Square Apartments and Castle Rock Townhomes. The properties contain a combined total of 445 units. Financing was based on a 7-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a national bank. “The lender was able to accommodate an extremely quick close, which was essential to the deal,” Williams said.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.