NorthMarq Capital arranges $29 million in financing for two multifamily properties
Columns At Cabana West-Waterford Place
OVERLAND PARK (September 25, 2013) – 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 Apts 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.
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