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NorthMarq Secures $11M Financing for Student Housing Complex Near Grand Canyon University

The GC Square Apartments complex, located near Grand Canyon University in Phoenix, is being converted to student housing.

PHOENIX — NorthMarq Capital has secured an $11 million loan for the refinance and conversion into student housing of GC Square Apartments, a 163-unit multifamily community located near Grand Canyon University in Phoenix.

The property will be the first off-campus property to directly serve the Grand Canyon University student base. Luke Donahue and Griffin Martin of NorthMarq secured the non-recourse, interest-only loan on behalf of the undisclosed borrower.

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