OVERLAND PARK (January 6, 2016) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City based regional office arranged acquisition financing of $16.275 million for Villaggio, a 239-unit multifamily property located in Bossier City, Louisiana. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac. “This mixed-use property includes 239 apartment units plus office and retail space,” said Duvall. “The buyer/borrower identified an opportunity to significantly increase the value of this asset through the conversion of some vacant retail space into an incremental 15 residential units. While the property enjoys high residential occupancy, the retail portion has struggled historically. Freddie Mac provided a workable framework for such conversion that was still consistent with their desire to ultimately securitize this loan. Additionally, Freddie Mac’s underwriting team worked very hard through the holiday season to get this transaction closed in a very short time frame.”
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 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 www.northmarq.com.