Multifamily L Iowa

NorthMarq Capital closes refinance of three multifamily properties in Iowa

westcove-LLC

Jason Kinnison, senior vice president of NorthMarq Capital’s Omaha office, secured the $1.85 million refinance of three multifamily properties in Cedar Rapids and Marion, Iowa.

Jason Kinnison, senior vice president of NorthMarq Capital’s Omaha office, secured the $1.85 million refinance of three multifamily properties in Cedar Rapids and Marion, Iowa.

The three properties -- Westcove Apartments, Kimberly Square and Residence on 11th -- contain a combined 64 units.

The transaction was structured with a fully amortizing 20-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.