KANSAS CITY (June 16, 2015) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City base regional office secured the $74.48 million refinancing of Stonegate Apartments and Avenues at Tuscan Lakes, two multifamily assets located at 11111 Grant Road in Cypress Texas and 1805 South Egret Bay Boulevard in League City, Texas. The transaction for Stonegate Apartments was structured with a 7-year ARM with 3-years interest only. Avenues at Tuscan Lakes was financed with a 10-year fixed deal with 5-years interest only. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac.
“Freddie Mac was able to provide and hold attractive loan terms at a very turbulent time in the market due to their strong relationships with this Kansas City based client,” said Duvall. “In the last year, Freddie has closed eight loans with this client totaling over $250 million.”