Multifamily
Debt & Equity

NorthMarq Capital arranges value-add financing for Kenilworth Apartments

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.”

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.

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Kenilworth Apts
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