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