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.