MINNEAPOLIS (September 29, 2014) – Dan Trebil, senior vice president/managing director of NorthMarq Capital’s Minneapolis based office arranged the $15.75 million refinance of The Overlook Apartments, a 318-unit multifamily property located at 1310 SW Summit Woods Drive in Topeka, Kansas. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.
“The borrower took advantage of the Freddie Mac “Index Lock” program, which allowed the borrower to lock the Treasury within 48 hours of receiving the financing quote,” said Trebil. “The sponsor has improved operations significantly since purchasing the property through attentive management and capital reinvestment. The new loan allows the borrower to lock in a long-term rate on an excellent asset.”