NorthMarq Capital Arranges $7.24M 2-Year-Interest-Only Mortgage
- Apr 16, 2010
Atlanta– Greg Duvall, senior vice president and senior director of NorthMarq Capital’s Kansas City Regional office, arranged a first mortgage of $7,237,500 for Highland Ridge Apartments, a 219-unit multifamily complex located in Atlanta.
Financing was based on a 10-year term with two years interest only, followed by a 30-year amortization schedule. The financing and was arranged for the borrower by NorthMarq through its seller-servicer relationship with Freddie Mac. According to Mr. Duvall, this acquisition financing was closed under Freddie Mac’s CME program.