NorthMarq Capital arranges $6.862 million refinancing for Pavilion Apartments located in One Lafayette Plaisance, Detroit, Michigan

Pavilion Apts
CHICAGO (October 4, 2013) – Sue Blumberg, Sr. Vice President of NorthMarq’s Chicago regional office, arranged refinancing of $6.862 million for Pavilion Apartments. The property is located at One Lafayette Plaisance, Detroit, Mich. and contains 340 units. The conventional market, multi-family property will maintain full occupancy throughout recapitalization. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, Pavilion Apartments LLC, through its relationship with Freddie Mac. “This is a refinance that took advantage of a lower interest rate, allowing the owner to modernize and enhance the amenities of the property,” said Blumberg. “It is an extremely well maintained property with superb management.”

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:

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