Northmarq Secures $14M Financing for 148-Unit Multifamily in KS
Northmarq’s Minneapolis Debt + Equity team, led by Daniel Trebil and Logan McCarthy, arranged $14.3 million in acquisition financing for Station Lofts, a 148-unit mid-rise multifamily community located at 1100 N. Second St. in Leavenworth, Kansas.
Northmarq arranged financing on behalf of the borrower, Partner Apartments, through a correspondent relationship with Freddie Mac. The permanent fixed-rate loan was structured on a 10-year term. “Properties with this kind of stable, demand-driven fundamentals continue to attract strong execution from Freddie Mac, and we were glad to deliver a financing structure that supports Partner Apartments’ long-term plans for the asset,” said McCarthy.
Originally built in 1926, Station Lofts is a historic apartment community that has been repositioned to serve today’s renters, blending character with modern living. Units include one-, two- and three-bedroom loft-style apartments. The property is conveniently located within walking distance of downtown Leavenworth, offering easy access to Riverfront Park, local dining, nightlife and more.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout