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CHANDLER, ARIZ. – The 272-unit Ocotillo Springs in Chandler has received $22.8 million in acquisition financing. The community is located at 825 W. Queen Creek Road.
The loan contains a seven-year term with three years of interest-only and a 30-year amortization schedule. Financing was arranged by Michael Elmoreand James DuMarsof NorthMarq Capital through the firm’s seller/servicer relationship with Freddie Mac.