Mark Ebersold, vice president in Northmarq’s Charlotte, North Carolina-based debt/equity office, negotiated the $28.15 million refinance of Village Green Apartments. The 406-unit multifamily property is located at 3121 Village Court in Janesville, Wisconsin.
The transaction was structured with a 10-year term with two years of interest-only on a 30-year amortization schedule. Northmarq arranged the permanent-fixed loan for the borrower through its relationship with a CMBS lender.
The property is within a 45-minute drive of three institutions of higher learning: University of Wisconsin – Whitewater, Rock Valley College, and Rockford University.
