Iowa

NorthMarq Secures $10.8M In Refinancing for Two Multifamily Properties in Iowa

by Danielle Everson

ANKENY AND GRIMES, IOWA — NorthMarq Capital’s Omaha office has secured refinancing of two multifamily properties located in Iowa totaling a combined $10.8 million. The properties include Tradition Pointe, a 72-unit apartment property located at 1103 S.W. 28th St. in Ankeny and Reserve at Glenstone, a 54-unit apartment property located at 3300 SE Glenstone Drive in Grimes. Jason Kinnison of NorthMarq arranged the 10-year loans with a 30-year amortization schedules. NorthMarq arranged financing for the borrowers, Tradition Pointe LLC and Glenstone Apartments LLC, through its seller/servicer relationship with Freddie Mac.

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