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.