CRE P Kansas

NorthMarq Capital provides $19 million loan for 466-unit apartment complex in Kansas

Brent Blake, vice president of NorthMarq Capital's Kansas City regional office, recently arranged first mortgage financing of $19.1 million for Cedar Crest Apartments, a 466-unit multi-family community in Overland Park, Kan.

Brent Blake, vice president of NorthMarq Capital's Kansas City regional office, recently arranged first mortgage financing of $19.1 million for Cedar Crest Apartments, a 466-unit multi-family community in Overland Park, Kan.

Financing was based on a 10-year term and a 30-year amortization schedule, and was arranged for the borrower by NorthMarq through its seller-servicer relationship with Freddie Macs.

This transaction is the refinance of an existing loan.

"Great borrower and a great property," Blake said. "This transaction is a perfect fit for the Freddie Mac CME program."