Northmarq

Northmarq Arranges $40.2M for Recapitalization of Two Apartment Communities in Wisconsin

by Kristin Harlow January 5, 2022

BROOKFIELD, WIS. — Northmarq has arranged $40.2 million to recapitalize Artisan at Georgetown Square and Foxhaven Apartments in Brookfield near Milwaukee. The borrower completed development of Artisan at Georgetown Square in January 2021. The property includes 99 units that were fully leased at the time of loan closing. Foxhaven was developed in three phases between 1987 and 1994. The borrower acquired the asset in 2000. Brett Hood of Northmarq arranged the financing through Freddie Mac. Loan proceeds for Artisan at Georgetown Square retired a $15.6 million construction loan and returned equity to the borrower. For Foxhaven, the borrower received a $20.4 million loan, which retired maturing agency debt.

January 5, 2022

Acquisitions Colorado Multifamily Northmarq Western

Northmarq Brokers $20.5M Sale of Fireside Apartments in Colorado Springs

by Amy Works December 22, 2021

COLORADO SPRINGS, COLO. — Northmarq has arranged the sale of Fireside Apartments, a multifamily property located at 610 N. Murray Blvd. in Colorado Springs. Clear Capital acquired the asset from Blueline Equity Partners for $20.5 million. Built in 1971, Fireside Apartments features 108 units. Alex Possick, Rich Ritter and Seth Gallman of Northmarq’s Colorado Multifamily Investment Sales team represented the seller. Brandon Harrington, Bryan Mummaw and Tyler Woodard of Northmarq arranged $16.2 million in acquisition financing for the buyer.

December 22, 2021

Acquisitions Midwest Multifamily Nebraska Northmarq

Northmarq Brokers Sale of 613-Unit Multifamily Property in Lincoln, Nebraska

by Kristin Harlow December 2, 2021

LINCOLN, NEB. — Northmarq has brokered the sale of Fairways at Lincoln for an undisclosed price. The 613-unit multifamily property, built in 2007, is located at 375 Fletcher Ave. in Lincoln. Fairways at Lincoln is situated on a nine-hole golf course. Parker Stewart and Dominic Martinez of Northmarq represented the seller, Kansas City-based Cohen-Esrey. John Reed of Northmarq secured acquisition financing on behalf of the buyer, Connecticut-based Hamilton Point Investments. Northmarq provided the loan through its status as a Freddie Mac Optigo lender. The five-year loan features one year of interest-only payments, a 30-year amortization schedule and a fixed interest rate of 2.75 percent.

December 2, 2021

Acquisitions California Multifamily Northmarq Western

Northmarq Brokers $22M Sale of 89-Unit Apartment Portfolio in El Cajon, California

by Amy Works November 15, 2021

EL CAJON, CALIF. — Northmarq has brokered the sale of a four-property multifamily portfolio located in El Cajon. Swanson Real Estate Solutions sold the property to El Cajon Investor 1 and El Cajon Investor 2 for $22 million. The portfolio includes the 28-unit Easter Manor Apartments, the 23-unit East Winds, the 19-unit Sunshine Manor Apartments and the 19-unit Sunshine Villas. The four buildings offer a total of 89 apartments. Erik Anderson and Kyle Pinkalla of Northmarq San Diego represented the buyer and seller in the deal.

November 15, 2021

Loans Northmarq Office Texas

Northmarq Arranges Refinancing of 240,000 SF Havenwood Office Park in Metro Houston

by Taylor Williams November 11, 2021

THE WOODLANDS, TEXAS — Northmarq has arranged a loan of an undisclosed amount for the refinancing of Havenwood Office Park, a 240,000-square-foot complex in The Woodlands, about 30 miles north of Houston. Warren Hitchcock of Northmarq arranged the fixed-rate loan, which carried a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule. The direct lender and borrower were not disclosed.

November 11, 2021

Build-to-Rent Loans Midwest Northmarq Wisconsin

Northmarq Provides $12.2M Freddie Mac Loan for Build-to-Rent Community in Oak Creek, Wisconsin

by Kristin Harlow November 4, 2021

OAK CREEK, WIS. — Northmarq has provided $12.2 million in construction takeout financing for the recently completed first phase of Residences at Oak View in Oak Creek, just south of Milwaukee. The build-for-rent community, located at 10730 S. Howell Ave., includes 42 rental homes. Residents have access to a clubhouse with a fitness center, game room, community room and outdoor pool. The property was fully pre-leased within two months of the first home delivery and achieved occupancy stabilization within five months. Construction on a 41-home second phase is currently underway, with completion slated for summer 2022. Brett Hood of Northmarq arranged the 10-year loan, which features five years of interest-only payments followed by a 30-year amortization schedule. Northmarq originated the financing for the borrower, ModHomes, through its status as a Freddie Mac Optigo lender.

November 4, 2021

Acquisitions Kansas Midwest Multifamily Northmarq

Northmarq Arranges $35.5M Sale of Apartment Complex in Shawnee, Kansas

by Kristin Harlow November 2, 2021

SHAWNEE, KAN. — Northmarq has arranged the sale of Park 67, a 352-unit apartment complex in Shawnee, for $35.5 million. Park 67 was built in 1969 and recently underwent renovations for 30 percent of the units. The property features a pool, fitness center, playground, business center and onsite laundry facilities. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, Kansas City-based Worcester Investments. Charlotte, N.C.-based Greystone Capital Holdings LLC was the buyer.

November 2, 2021

Loans New York Northeast Northmarq Retail

NorthMarq Arranges $17.5M CMBS Loan for Refinancing of Staten Island Shopping Center

by Taylor Williams October 26, 2021

NEW YORK CITY — NorthMarq has arranged a $17.5 million CMBS loan for the refinancing of Eltingville Shopping Center, a 98,523-square-foot retail property in Staten Island. Tenants include Rite Aid, Advance Auto Parts and Santander Bank. Charles Cotsalas and Robert Delitsky of NorthMarq arranged the 10-year, interest-only loan through an undisclosed direct lender. The borrower was also not disclosed.

October 26, 2021

Loans Multifamily Northmarq Washington Western

NorthMarq Arranges $27.6M Refinancing for Glacier Run Multifamily Property in Puyallup, Washington

by Amy Works October 22, 2021

PUYALLUP, WASH. — NorthMarq has secured a $27.6 million refinancing for Glacier Run Phase II, an apartment community located at 12020 Sunrise Blvd. East in Puyallup. Bob Spiro and Scott Moline of NorthMarq arranged the financing, which features a 10-year term on a 30-year amortization schedule, through its in-house Fannie Mae team. Built in 2021, Phase II includes 144 apartments in a mix of one-, two- and three-bedroom layouts with high-end finishes, stainless steel appliances and in-unit washers/dryers. Community amenities include a heated resort-style pool, fitness center, dog park, three season room and clubhouse.

October 22, 2021

Affordable Housing Loans Multifamily Northmarq Texas

NorthMarq Arranges $21M Refinancing for North Houston Workforce Housing Property

by Taylor Williams October 19, 2021

HOUSTON — NorthMarq has arranged a $21 million loan for the refinancing of Vista Apartments, a 300-unit workforce housing community in North Houston. The property was built in 1980 and renovated in 2019. Warren Hitchcock of NorthMarq arranged the loan, which carried a 10-year term with an initial interest-only period, a fixed 3.75 percent interest rate and a 30-year amortization schedule, on behalf of the Houston-based borrower. An undisclosed national balance sheet lender provided the debt.

October 19, 2021

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