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NorthMarq Arranges Agency Refi on New Milwaukee-Area Apartments
Brett Hood, SVP of NorthMarq’s Chicago-based regional office, secured $26,200,000 in permanent agency debt recapitalizing Poplar Creek Club, a recently stabilized 138-unit Class A multifamily community located in Brookfield, WI.
The Freddie Mac arranged loan represents 75% loan-to-value featuring a 10-year fixed rate term with five years’ interest only followed by a 30-year amortization cycle. Loan proceeds retired a $22,580,000 construction facility enabling the sponsor to recapture a portion of the equity required for asset development.
“The collateral was delivered in two phases between April and December 2019, experiencing strong lease-up velocity despite the ongoing COVID-19 pandemic,” said Hood. “The property’s lease up success is a testament to the strength in asset quality and location.”
Brookfield is considered an affluent second-ring Milwaukee suburb 14 miles west of the CBD. It’s known for its quality residential housing, exceptional school system and strong commercial base.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing


