NorthMarq Capital’s Kansas City office arranges refinance for Independence Ridge Apartments in Independence, Missouri
Independence Ridge Apts
KANSAS CITY (April 11, 2016) – Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City base regional office arranged the refinance of Independence Ridge Apartments, a 336-unit multifamily property located at 19012 East 37th Terrace South in Independence, Missouri. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac. “This was a low leverage loan on a property that had approximately 60 percent of its units rented to residents making less than 50 percent of the area median income,” noted Duvall.
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