Multifamily - Debt

NorthMarq Capital arranged $29.25 million mortgage for Regency Place in Oakbrook Terrace, Illinois

CHICAGO (January 14, 2013) – Sue Blumberg, senior vice president and managing director of NorthMarq’s Chicago Regional office, arranged first mortgage refinancing of $29.25 million for Regency Place, a 112-unit market-rate multifamily property located at 2003 S. Meyer Road in Oakbrook Terrace, Illinois. There are also 3 commercial tenants located at the site. Financing was based on a 7-year term with the first 2 years interest only and then a 30-year amortization schedule. The rate was well below 3.5% fixed rate. NorthMarq arranged this financing for the borrower, Regency Place Owner, LLC, through its seller-servicer relationship with Freddie Mac. “The borrower is a well-established, longtime repeat Freddie Mac borrower,” said Blumberg. “They were able to maximize the term of the loan to fit their investment requirements.”

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.