Northmarq’s Kansas City office arranges $16.5 million acquisition financing for Highland Ridge Apartments in Manhattan, Kansas
KANSAS CITY, KANSAS (March 28, 2022) – Greg Duvall, senior vice president/managing director of Northmarq’s Kansas City office, arranged $16.5 million acquisition financing for Highland Ridge Apartments for CRES Management. The 240-unit multifamily property is located at 509 Stone Drive, Manhattan, Kansas and is comprised of both market rate & LIHTC units. The transaction was structured with a 7-year term with 2-years interest only followed by a 30-year amortization scheduled. Northmarq secured the permanent-floating loan for the borrower through its status as a Freddie Mac Optigo lender.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
