TODAY’S DEALS: NorthMarq Capital Arranges Over $15M Mortgage for 206-Unit Community, and Other Transactions

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By Anuradha Kher, Online News EditorLake Zurich, Ill.–NorthMarq Capital has arranged first mortgage financing of $15,326,400 for Landings (pictured) of Lake Zurich, a 206-unit multifamily property, located in Lake Zurich, Ill. The loan carries a 10-year term with a 30-year amortization schedule and was arranged for the borrower, Landings Capital Partners LLC, by NorthMarq through […]

By Anuradha Kher, Online News EditorLake Zurich, Ill.–NorthMarq Capital has arranged first mortgage financing of $15,326,400 for Landings (pictured) of Lake Zurich, a 206-unit multifamily property, located in Lake Zurich, Ill. The loan carries a 10-year term with a 30-year amortization schedule and was arranged for the borrower, Landings Capital Partners LLC, by NorthMarq through its affiliated Fannie Mae DUS lender, AmeriSphere. Alliant Capital Closes $1.62M Second Lien Financing for Garden-Style ProjectTucson, Ariz.–Alliant Capital LLC recently arranged $1.62 million second lien financing of Posada del Rio in Tucson, Ariz. on behalf of HSL Properties Inc. The second lien was completed with a 10-year term, 9.5 years yield maintenance and a 30-year amortization. Alliant Capital closed the borrower’s first lien in 2003. Located five miles from downtown in the eastern portion of metropolitan Tucson and major employment centers, the community boasts an occupancy rate of 93 percent. The community also has 12.5 percent military residents because of its close proximity to Davis Monthon Air Force Base. As the Tucson market is fairly stable with a positive long-term outlook combined with the strong borrowing history of HSL and established residency of the property, Alliant Capital was able to lock the interest rate at 5.99 percent.  Built in 1980, Posada del Rio features nine, two-story garden-style apartment buildings. Community amenities include an outdoor pool, heated spa, in-unit washer and dryers and a workout room.

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