Multifamily
Debt & Equity

NorthMarq Capital’s Cincinnati office secured $4,337,500 acquisition financing for The Devereaux Apartments in Kansas City, Missouri

CINCINNATI (August 2, 2017) Noah Juran, vice president of NorthMarq Capital’s Cincinnati regional office, arranged acquisition financing of $4,337,500 for The Devereaux Apartments, a 60-unit multifamily property located in Kansas City, Missouri. The transaction was structured with a three-year loan term with 30 months interest-only and funding for 100 percent of property improvements and renovations. NorthMarq arranged financing for the borrower through a bridge lender. “Our client is very active in acquiring well-located apartment communities with a value-add component. The borrower was very excited about this deal as they are achieving great success at a previously purchased and renovated, similar property in the Midtown neighborhood in Kansas City,” said Juran. “For the loan request, we spoke to several non-recourse bridge lenders and received multiple, competitive quotes. The loan was funded in 30 days from the date of the signed application.”

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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The Devereaux Apts
Permanent Loan - Fixed
$4,337,500