NorthMarq Capital arranges value-add financing for Kenilworth Apartments

Kenilworth Apts

Debt & Equity

Multi-Tenant

OVERLAND PARK (October 16, 2017) – Kyle Tucker, vice president of NorthMarq Capital’s Kansas City regional office, arranged acquisition/rehab financing involving leaders of Lane4 Property Group and Jones Development Company to acquire Kenilworth Apartments in Prairie Village, Kansas. This transaction was part of a five-property portfolio purchase encompassing 73 percent of the Prairie Village apartment stock. “This was a perfect fit for Freddie Mac’s Value-Add program. Lane4 and Jones Development Company utilized the value-add program to capture more proceeds at a lower DCR than a conventional Freddie Mac loan,” explained Tucker. “The full term, interest-only loan is a great tool that allows borrowers to upgrade properties on a non-recourse basis, while maintaining the flexibility to roll into permanent debt at any time with no prepayment penalty.”

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About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.