Sue Blumberg, senior vice president/managing director of NorthMarq Capital‘s Chicago based regional office secured permanent financing of $24 million for Central Station, a newly constructed LEED Certified multifamily property located at 1720 Central Street in Evanston, Illinois. The property, completed in 2013, contains 81-units. The transaction was structured with a 7-year term with 2-years interest only, and a 30-year amortization schedule. NorthMarq arranged financing for the borrower, an entity related to RMK Management, through its Seller/Servicer relationship with Freddie Mac.
“This is the first new property built in Evanston’s North end, close to Metra, shopping/retail and Ryan Field of Northwestern University,” said Blumberg. “The property provides superior amenities and indoor parking.”