Northmarq Kansas City secures $10.4M refinance of 252-unit multifamily property in Overland Park, KS
Overland Park, KS — Joe Heinzler of Northmarq’s Kansas City Debt + Equity team successfully arranged a $10.4 million cash-out refinance of Santa Fe Towers, a 252-unit apartment community in Overland Park, Kansas.
The financing was structured through Freddie Mac’s Targeted Affordable Housing program on behalf of Young Management and features a fixed-rate term, Full Term Interest Only, and significant cash-out proceeds to the sponsor while preserving long-term ownership of this generational asset.
“The refinancing of Santa Fe Towers was a compelling opportunity that allowed the sponsor to capitalize on attractive loan terms and realize significant cash-out potential as they continue their commitment to providing Affordable Housing in the Kansas City market,” said Heinzler. “We were pleased to leverage our strong agency relationship to deliver competitive loan terms that aligned with the borrower’s business plan.”
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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 $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
