OVERLAND PARK, KS – Greg Duvall, senior vice president and managing director of NorthMarq’s Kansas City regional office, arranges $29 million in financing for two multifamily properties.
Columns at Cabana West is a 268-unit, market- rate multifamily property located at 302 Cabana Boulevard in Panama City, Florida. Acquisition financing was based on a 10-year term with 3 years interest only then a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS lender. “This loan was financed as a FNMA structured ARM loan,” Duvall said.
Waterford Place Apartments is a 192-unit, market-rate multifamily property located at 11220 West 108th Street in Overland Park, Kansas. Refinancing was based on a 20-year term and a 20-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender.
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 33 offices coast to coast. With an average of $9.5 billion in annual production volume and servicing a loan portfolio of over $41 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit www.northmarq.com.