Northmarq’s Chicago Debt + Equity team facilitates $27M refinance for Madison Throop Place

CHICAGO — Northmarq’s Chicago Debt + Equity team led by Managing Director Kevin McCarthy arranged the $27,079,500 refinance of Madison Throop Place, a 72-unit luxury apartment community located at 1247 West Madison Street in Chicago.  

Northmarq arranged financing on behalf of Breneman Capital, a real estate investment managing firm specializing in the multifamily sector, through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a five-year term with full-term interest-only payments.

“The combination of the sponsor’s deep experience in this market and strong submarket fundamentals enabled Fannie Mae to take an aggressive approach to keep this deal within their portfolio,” McCarthy said.

Built in 2016, Madison Throop Place is a boutique Class A community in one of Chicago’s most supply-constrained and highest-demand submarkets. The property delivers high quality design with condo-level finishes that include stainless steel appliances, in-unit laundry, private balconies, and spacious open floor plans. Residents benefit from secured access, indoor parking, bicycle storage, and immediate walkability to the area’s leading retail and dining corridors.

The community sits within the core of the West Loop, a neighborhood that has experienced sustained renter demand and limited new supply additions. The combination of Breneman Capital’s experience in the submarket, durable fundamentals, and high-quality construction supported a smooth execution through the Fannie Mae DUS program.