NorthMarq Capital’s Kansas City office arranges $18.35 million in acquisition financing for The Park at Eagle Creek in Indianapolis, Indiana
The Park at Eagle Creek
OVERLAND PARK (April 5, 2016) – Kyle Tucker, vice president of NorthMarq Capital’s Kansas City based regional office arranged acquisition financing of $18.35 million for The Park at Eagle Creek, a 240-unit multifamily property located in Indianapolis, Indiana. The transaction was structured with a 10-year term with three years interest-only and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Block Funds of Kansas City, through its seller-servicer relationship with Freddie Mac. “Freddie Mac provided an extended index lock which allowed Block Funds to mitigate its interest rate exposure during a relatively long sales contract period,” said Tucker. “Further, Freddie provided three years of interest- only during which the borrower will perform interior upgrades to the property.”
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.
