Multifamily - Debt

NorthMarq Capital’s Kansas City office arranges $18.35 million in acquisition financing for The Park at Eagle Creek in Indianapolis, Indiana

OVERLAND PARK (April 5, 2016) – Kyle Tucker, vice president of NorthMarq Capital’s Kansas City based regional office arranged acquisition financing of $18.35 million for The Park at Eagle Creek, a 240-unit multifamily property located in Indianapolis, Indiana. The transaction was structured with a 10-year term with three years interest-only and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Block Funds of Kansas City, through its seller-servicer relationship with Freddie Mac.

“Freddie Mac provided an extended index lock which allowed Block Funds to mitigate its interest rate exposure during a relatively long sales contract period,” said Tucker. “Further, Freddie provided three years of interest- only during which the borrower will perform interior upgrades to the property.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.