Sue Blumberg, senior vice president/managing director of NorthMarq Capital‘s Chicago based regional office secured acquisition financing of $3,062,000 million for Woodstone Apartments, a 99-unit multifamily property located in Kalamazoo, Michigan. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its affiliation with AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.
“We were able to help the borrower with financing as well as positioning the property for the future,” said Blumberg. “Our relationship with our sister company, AmeriSphere, was essential to the process.”