Northmarq arranges refinancing of $17 million for Shagbark Apartments in Kenosha, Wisconsin

Shagbark Apts

CHICAGO, ILLINOIS (September 30, 2021) – Sue Blumberg, senior vice president/managing director of Northmarq’s Chicago office, arranged the $17 million refinance of Shagbark apartments. The 460-unit multifamily property is located in Kenosha, Wisconsin. The permanent-fixed rate loan was arranged for the borrower through Northmarq’s in-house Fannie Mae DUS financing team.

“We have refinanced this property four times for this loyal borrower and have taken advantage of historically low interest rates.  The property is positioned to thrive for the long-term since the borrower continues to upgrade the property while achieving maximum occupancy.  Management creates a very desirable community for the residents,” said Blumberg. 

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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

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