NORTHMARQ ARRANGES $22.9M IN COMBINED MORTGAGES FOR APARTMENT PROPERTIES

KANSAS CITY, KAN. — David Farrell of NorthMarq Capital's Kansas City office has arranged $22.9 million in first-mortgage financing for three multifamily properties in Kansas, Ohio and Tennessee. The properties contain a total of 491 units. Pinnacle Woods Apartments, located at 5000 Clinton Parkway in Lawrence, Kan., contains 208 units and received financing totaling $10.4 million. Village West Apartments, located at 884 Thurber Dr. West in Columbus, Ohio, contains 115 units and received $6.6 million in refinancing proceeds. Walker Springs Apartments, located at 721 Walker Springs in Knoxville, Tenn., contains 168 units and was refinanced at $5.8 million. Each of the loans is for 10 years with a 30-year amortization schedule. Freddie Mac provided the loans.