NORTHMARQ ARRANGES $20M LOAN FOR OFF-CAMPUS STUDENT HOUSING IN KANSAS

LAWRENCE, KAN. – NorthMarq’s San Francisco office has arranged acquisition financing of $20 million for the Ironwood Multifamily Portfolio. The portfolio, which consists of four off-campus student housing properties near the University of Kansas, contains a combined total of 445 units. The student housing properties are Park West Gardens, Ironwood Court Apartments, Remington Square Apartments and Castle Rock Townhomes. Financing was based on a 7-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a national bank.