Updated Mar 11, 2025
NorthMarq Provides $16.03M Loan For Deer Creek Run Multifamily In New Berlin, WI
1593 South Moorland Road
$16,030,000
Units
112
Asset Type
MultiFamily
Closing
Sep 26, 2023
About this deal
AI
NorthMarq has provided $16.03 million in Fannie Mae financing for Deer Creek Run, a multi-family property located at 1593 South Moorland Road in New Berlin, Wisconsin. The property consists of 112 units and is owned by an affiliate of Wimmer Communities, represented by Mark J. Wimmer.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $16,030,000
- Address: 1593 South Moorland Road, New Berlin, WI
- Units: 112
- Lender: NorthMarq
- Landlord: Affiliate of Wimmer Communities - Mark J. Wimmer
- Loan Terms: 10-year loan
The financing provided by NorthMarq will support the development and maintenance of Deer Creek Run, contributing to the rental housing market in New Berlin, Wisconsin. This transaction highlights the partnership between NorthMarq and Wimmer Communities, showcasing their commitment to investing in multi-family properties.
New Berlin MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93