CHICAGO—Sue Blumberg, senior vice president and managing director of NorthMarq’s Chicago Regional office, arranged first mortgage refinancing of $14.5 million for Shagbark Apartments, a 460-unit, market-rate multifamily community located in Kenosha, Wis.
Financing was arranged for the borrower, Shagbark Apartments L.L.C., by NorthMarq through its seller-servicer relationship with Freddie Mac.
“This is the lowest spread Freddie Mac has offered this year – low leverage transaction and the fifth time the property has been financed with Freddie Mac,” said Blumberg. “This is a premier borrower with Freddie Mac, and an incredibly low interest rate of 3.37 percent fixed for 10 years.”