Northmarq Provides $16M Agency Permanent Loan for Northern New Jersey Apartment Complex

EAST ORANGE, N.J. — Northmarq has provided a $16 million Fannie Mae permanent loan for The Harrison, a 103-unit apartment complex located in the Northern New Jersey community of East Orange. The newly built property offers studio, one- and two-bedroom units with private balconies, stainless steel appliances and walk-in closets. Robert Ranieri of Northmarq originated the loan on behalf of the undisclosed

May 18, 2022Loans, Multifamily, New Jersey, Northeast, Northmarq

Northmarq Arranges $12.9M Refinancing for May’s Landing Apartments in Salem, Oregon

SALEM, ORE. — Northmarq has arranged $12.9 million in refinancing for May’s Landing Apartments, a multifamily community in Salem.Salem-based Rushing Group, the borrower, recently constructed the garden-style, 96-unit multifamily property. The permanent refinance will allow the borrower to take out its interim bridge debt, which it utilized during the property’s lease-up, and return equity for its next multifamily development.Conor Freeman of Northmarq’s San Diego office …

May 11, 2022Loans, Multifamily, Northmarq, Oregon, Western

Northmarq Arranges $3M Loan for Refinancing of Retail Center in Kansas City

KANSAS CITY, MO. — Northmarq has arranged a $3 million loan for the refinancing of the Shops at Shoal Creek in Kansas City. The 14,238-square-foot retail center, built in 2015, is located at 8250-8260 N. Booth Ave. The property is situated near a larger shopping center that is home to Target, Sam’s Club, Walmart Supercenter and The Home Depot. Bob Harrington of Northmarq arranged the fixed-rate loan, which features a 10-year term, two years of interest-only payments and a 30-year …

May 9, 2022Loans, Midwest, Missouri, Northmarq, Retail

Northmarq Arranges $28.8M Acquisition Loan for Office Park in Mendota Heights, Minnesota

MENDOTA HEIGHTS, MINN. — Northmarq has arranged a $28.8 million loan for the acquisition of Centre Pointe Business Park in Mendota Heights, a southern suburb of the Twin Cities. The eight-building office park is located at 2060 Centre Pointe Blvd. Totaling 263,279 square feet, the property was built in phases beginning in 1997. The last phase was completed in 2019. The park, which was 95 percent leased at the time of sale, is home to 18 tenants, including Permasteelisa North America Corp. and …

April 18, 2022Loans, Midwest, Minnesota, Northmarq, Office

Northmarq Arranges $28.1M Loan for Refinancing of Multifamily Property in Janesville, Wisconsin

JANESVILLE, WIS. — Northmarq has arranged a $28.1 million loan for the refinancing of Village Green Apartments in Janesville, about 40 miles south of Madison. The 406-unit multifamily property is located at 3121 Village Court. Mark Ebersold of Northmarq arranged the 10-year loan, which features two years of interest-only payments and a 30-year amortization schedule. A CMBS lender provided the fixed-rate loan. The borrower was

April 15, 2022Loans, Midwest, Multifamily, Northmarq, Wisconsin

Northmarq Arranges $79.7M Sale of Towne at Glendale Apartment Complex in Glendale, California

GLENDALE, CALIF. — Northmarq has brokered the sale of Towne at Glendale, a multifamily community located in the Verdugo Woodlands area of Glendale. Los Altos, Calif.-based Interstate Equities Corp. sold the asset to a public-private partnership of CSCDA Community Improvement Authority and BLVD Impact Housing for $79.7 million, or $630,000 per unit.Built in 1965, Towne at Glendale features 126 units, averaging 1,136 square feet. The property has undergone major renovations to provide …

March 30, 2022Acquisitions, Affordable Housing, California, Multifamily, Northmarq, Western

Northmarq Secures $16.8M Acquisition Loan for Grocery-Anchored Center in Jupiter, Florida

JUPITER, FLA. — Northmarq has secured $16.8 million in acquisition financing for Fresh Market Village, a 55,046-square-foot, grocery-anchored retail property in Jupiter.Daniel Karp of Northmarq arranged the financing, which included a 10-year term with three years of interest-only payments followed by a 30-year amortization schedule. Northmarq secured the permanent, fixed-rate loan on behalf of the undisclosed borrower through its relationship with an unnamed life insurance …

March 24, 2022Florida, Loans, Northmarq, Retail, Southeast

Northmarq Brokers $29.1M Sale of Highline Lofts Apartments in Aurora, Colorado

AURORA, COLO. — Northmarq has arranged the sale of Highline Lofts Apartments, a multifamily property located at 456 S. Ironton St. in Aurora. Lowe Property Group sold the property to Summit Communities for $29.1 million, or $260,000 per unit.Built in 1972, Highline Lofts Apartments features 112 units in a mix of one-, two- and three-bedroom floor plans, ranging from 740 square feet to 1,395 square feet.Alex Possick, Rich Ritter and Seth Gallman of Northmarq’s Colorado Multifamily …

March 16, 2022Acquisitions, Colorado, Multifamily, Northmarq, Western

Northmarq Arranges Sale of 56-Unit Apartment Building in Kansas City

KANSAS CITY, MO. — Northmarq has arranged the sale of Centropolis on Grand, a 56-unit apartment building in Kansas City’s River Market neighborhood. The sales price was undisclosed. Gabe Tovar and Jeff Lamott of Northmarq represented the seller, KC Commercial Realty Group, which developed the property in 2016. Tovar and Lamott are also arranging permanent financing on behalf of the buyer, Minneapolis-based Oaks Properties. The transaction marks the buyer’s first investment in the Kansas …

March 11, 2022Acquisitions, Midwest, Missouri, Multifamily, Northmarq

Northmarq Arranges $19.2M Loan for Refinancing of Senior Living Community in Suburban Chicago

OAK BROOK, ILL. — Northmarq has arranged a $19.2 million FHA loan for the refinancing of Mayslake Center II in the Chicago suburb of Oak Brook. The seniors housing property features 249 independent living units and is located within the larger Mayslake Village. Amenities include a wellness center, dining room, chapel and social services. Sue Blumberg of Northmarq arranged the fixed-rate loan, which is fully amortized over 40 years. The borrower was a nonprofit

March 8, 2022Illinois, Loans, Midwest, Multifamily, Northmarq, Seniors Housing

Northmarq Provides $16M Agency Permanent Loan for Northern New Jersey Apartment Complex

Northmarq Arranges $12.9M Refinancing for May’s Landing Apartments in Salem, Oregon

Northmarq Arranges $3M Loan for Refinancing of Retail Center in Kansas City

Northmarq Arranges $28.8M Acquisition Loan for Office Park in Mendota Heights, Minnesota

Northmarq Arranges $28.1M Loan for Refinancing of Multifamily Property in Janesville, Wisconsin

Northmarq Arranges $79.7M Sale of Towne at Glendale Apartment Complex in Glendale, California

Northmarq Secures $16.8M Acquisition Loan for Grocery-Anchored Center in Jupiter, Florida

Northmarq Brokers $29.1M Sale of Highline Lofts Apartments in Aurora, Colorado

Northmarq Arranges Sale of 56-Unit Apartment Building in Kansas City

Northmarq Arranges $19.2M Loan for Refinancing of Senior Living Community in Suburban Chicago

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Finance Insight 2022

Factors Compressing Affordable Housing Pipeline in 2021 Likely to Resolve in 2022

Web-Based Appraisal Tool Supports Massive Increase in Demand for Multifamily Valuations

Multifamily Investment to Expand into Secondary, Tertiary Markets in 2022

Multifamily Financing Outlook Positive Despite Volatility, Interest Rates

Growth of Affordable Housing Delayed by Approval Process Slowdowns, Supply Chain

Web-Based Multifamily Valuation Enhances Speed, Builds Better Predictions

Investment, Financing in Seniors Housing Driven by Property Performance

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