Northmarq’s Chicago Debt + Equity team arranges $24.7M refinancing for Class A West Loop multifamily property
Photo source: Newcastle Investors
CHICAGO — Northmarq’s Chicago Debt + Equity team led by Kevin McCarthy successfully arranged $24.7 million in refinancing for Reside on Jackson, a 93-unit Class A multifamily property located at 1241 and 1245 W. Jackson Blvd. in Chicago.
Northmarq arranged the financing on behalf of the borrower, Newcastle Investors, through the firm’s in-house Fannie Mae DUS platform. The permanent fixed-rate financing is structured on a five-year term.
“High-quality multifamily assets in well-located Chicago submarkets continue to generate strong lender demand. This was a competitive financing process, and we were very pleased with Fannie Mae’s pricing and execution,” McCarthy said.
Built in 2016, Reside on Jackson offers a rare combination of condo-quality finishes and walkable access to one of Chicago’s most sought-after neighborhoods. The community’s modern construction, institutional-quality design and amenity package continue to position it competitively in Chicago’s luxury multifamily market.
The community offers residents a mix of one- and two-bedroom apartment homes featuring spacious floor plans, high-end finishes, in-unit laundry and central air conditioning. Community amenities include a resident rooftop with grills, bicycle storage, a 24-hour concierge service and 24-hour emergency maintenance.
Conveniently located steps from Chicago’s West Loop, residents benefit from convenient access to local dining, entertainment and retail destinations. The community also offers proximity to major employment centers and multiple public transportation options.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
