Northmarq’s Chicago office arranges $40,240,000 in agency financing for two multifamily properties in in Brookfield, Wisconsin

Two Multifamily Properties

CHICAGO, ILLINOIS (December 22, 2021) – Brett Hood, managing director of Northmarq’s Chicago-based regional office, secured $40,240,000 in aggregate financing to recapitalize Artisan at Georgetown Square and Foxhaven Apartments both located in suburban Brookfield, Wisconsin. Loan proceeds for Artisan at Georgetown Square retired a $15,640,000 construction loan and returned equity to the borrower who was also the project developer. Foxhaven, also owned by the sponsor, received a $20,425,000 loan retiring their maturing agency debt with a sizable equity recapture. Both properties enjoy premier suburban locations near restaurants, retail, and employment hubs. The community is home to 40,000 residents and highly regarded for its residential base and strong public school systems.

Artisan at Georgetown Square includes 99 units with market leading interior finishes and a state-of-the-art amenity package. The property was delivered in January 2021 and demonstrated tremendous lease-up momentum; Artisan was fully leased and 98% physically occupied at the time of closing. 

Foxhaven was developed in three distinct phases between 1987 and 1994. The sponsor acquired the complete property in 2000 and has successfully managed the asset as a single community for over 20 years. Foxhaven offers residents expansive floorplans at an affordable price point for the area. The property includes garage parking, in-unit laundry, and lofted style floorplans.

The Freddie Mac program allowed for an effective closing process with certainty of execution on both transactions. The borrower utilized Freddie’s index-lock feature early in the process on both, securing attractive rates during a period of high market volatility. 

Already the existing lender on Foxhaven, Freddie had witnessed the impressive revenue growth demonstrated at the property over the past several years and was comfortable with the large cash-out at full leverage. “The Milwaukee-based sponsor is very familiar with the Freddie Mac process and the Lender offered superior terms to win Artisan and keep Foxhaven in their portfolio,” said Hood.

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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