NORTHMARQ ARRANGES TWO MULTIFAMILY LOANS TOTALING $30 MILLION

OLATH AND OVERLAND PARK, KAN. — Greg Duvall in the Kansas City office of NorthMarq Capital has arranged approximately $30 million in first-mortgage financing for two multifamily properties in Kansas. Duvall has arranged $15.3 million in first-mortgage financing for Millcreek Woods Apartments, which are located at 1711 N Ridgeview Rd. in Olathe. Financing for the 312-unit property was based on a 7-year term with 3 years interest only, and a 30-year amortization schedule. In Overland Park, Duvall has arranged $14.5 million in first-mortgage financing for the Pebblebrook Apartments, which are located at 7700 W 95th St. The loan for the 267-unit multifamily community was based on a 7-year term with 3 years interest only, and a 30-year amortization schedule. Both loans were arranged for the borrower by NorthMarq through its seller/servicer relationship with Freddie Mac, through its streamline refinance program. Additionally, both transactions are a 7-year adjustable rate mortgage with an embedded cap.