Northmarq

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

Loans Midwest Minnesota Multifamily Northmarq

NorthMarq Arranges $19M Construction Loan for Multifamily Adaptive Reuse Project in St. Paul

by Kristin Harlow October 8, 2021

ST. PAUL, MINN. — NorthMarq has arranged a $19 million construction loan for an adaptive reuse project at 1554 Midway Parkway in St. Paul. The former seniors housing facility will be transformed into 148 market-rate apartment units. Completion is slated for next year. Michael Padilla of NorthMarq’s Minneapolis office arranged the five-year loan, which features two years of interest-only payments followed by a 25-year amortization schedule. A local bank provided the loan on behalf of the borrower, Premier Holdings LLC.

October 8, 2021

Acquisitions Multifamily Northmarq Texas

NorthMarq Brokers Sale of 120-Unit Apartment Complex in Waxahachie, Texas

by Taylor Williams October 6, 2021

WAXAHACHIE, TEXAS — NorthMarq has brokered the sale of Solon Place Apartments, a 120-unit complex in Waxahachie, a southern suburb of Dallas. Amenities include a pool, playground and onsite laundry facilities. VaultCap Partners purchased the property from MacDonald Realty Group for an undisclosed price. Taylor Snoddy, James Roberts, Phillip Wiegand and Eric Stockley of NorthMarq brokered the sale.

October 6, 2021

Affordable Housing Loans Midwest Minnesota Multifamily Northmarq

NorthMarq Arranges $32.2M Loan for Refinancing of Minneapolis Affordable Housing Community

by Kristin Harlow September 23, 2021

MINNEAPOLIS — NorthMarq has arranged a $32.2 million loan for the refinancing of Stone Arch Apartments in Minneapolis. The 221-unit affordable housing community, built in 2002, is located at 601 Main St. Amenities include a fitness center, business center, laundry facilities and grill area. Michael Padilla of NorthMarq arranged the loan through Freddie Mac’s Targeted Affordable Housing (TAH) program. The seven-year loan features a 30-year amortization schedule.

September 23, 2021

Loans New York Northeast Northmarq Retail

NorthMarq Arranges $30M Loan for Refinancing of Retail Asset in Queens

by Taylor Williams September 14, 2021

NEW YORK CITY — NorthMarq has arranged a $30 million loan for the refinancing of Springnex Plaza Shopping Center, a 96,019-square-foot retail asset located in the Springfield Gardens area of Queens. The grocery-anchored retail property was built in 2000. Robert Delitsky of NorthMarq arranged the fixed-rate loan through an undisclosed credit union on behalf of the borrower, an affiliate of New York-based Mattone Investors LLC that originally developed the property.

September 14, 2021

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NorthMarq Arranges $132M Refinancing for Six Multifamily Properties in California, Washington

by Amy Works September 14, 2021

SAN FRANCISCO — NorthMarq’s San Francisco office has arranged the $132 million in refinancing for six multifamily properties in California and Washington comprising 965 units. Dennis Williams and Tom Wright of NorthMarq arranged the financing for the borrower, JB Matteson, through its long-time correspondent relationship with Allianz. The six permanent loans featured fixed interest rates with interest-only payments for the full 10-year terms. The financing includes: A $19.2 million loan for Avanti Apartments, a 216-unit property located at 4450 El Centro Road in Sacramento. A $31.4 million loan for Millworks Apartments, a 124-unit community located at 900 Reichert Ave. in Novato, Calif. An $18.5 million loan for Reflections at the Park, a 244-unit complex located at 11510 NE 112th Drive in Vancouver, Wash. A $19.4 million loan for Tustin Cottages, a 93-apartment community at 1361 El Camino Real in Tustin, Calif. A $25.5 million loan for Urban Village, a 129-unit property at 1081 Long Beach Blvd. in Long Beach, Calif. An $18 million loan for Waterfront Apartments, a 96-unit community with 4,000 square feet of commercial space in Petaluma, Calif.

September 14, 2021

Loans Northmarq Office Texas

NorthMarq Arranges Acquisition Financing for 64,132 SF Office Building in Metro Houston

by Taylor Williams September 1, 2021

MISSOURI CITY, TEXAS — NorthMarq has arranged an undisclosed amount of acquisition financing for a 64,132-square-foot office building located in the southwestern Houston suburb of Missouri City. Matt Franke of NorthMarq arranged the nonrecourse loan, which carried a 10-year term and a 25-year amortization schedule, through Innovative Capital Advisors on behalf of the undisclosed borrower. The building was 91 percent leased at the time of the loan closing, with Wells Fargo serving as the anchor tenant.

September 1, 2021

Acquisitions Colorado Multifamily Northmarq Western

NorthMarq Brokers $88.7M Sale of Park 17 Multifamily Community in Denver

by Amy Works August 31, 2021

DENVER — NorthMarq has arranged the sale of Park 17, an apartment property located at 1210 E. 17th Ave. in Denver. Kairoi Residential sold the asset to an undisclosed buyer for $88.7 million. Completed in July 2020, Park 17 features 190 apartments in 34 floor plans ranging from 504 square feet to 1,663 square feet with nine- to 12-foot ceilings, modern technology packages, Moen plumbing fixtures, glass and custom porcelain backsplashes, Nest thermostats, keyless entries, stall showers and side-by-side refrigerators. On-site amenities include a fourth-floor infinity pool overlooking the Denver skyline. Dave Martin and Brian Mooney of NorthMarq’s Denver office represented the seller in the deal. David Link and Jeff DeHarty of NorthMarq’s Denver debt/equity team arranged $45 million in acquisition financing for the borrower through its relationship with a life insurance company. The transaction was structured with a 10 years of interest-only payments.

August 31, 2021

Loans Multifamily Northmarq Southeast Virginia

NorthMarq Arranges $34M Construction Loan for Hardywood Village in Richmond

by Julia Sanders August 25, 2021

RICHMOND, VA. — NorthMarq has arranged a $34 million loan for the construction of Hardywood Village, a 189-unit multifamily property with ancillary retail space located at 1601 Overbrook Road in Richmond. Construction is scheduled to be completed by summer or fall 2022. The loan was structured with a 30-year fully amortizing term. Keith Wells and Reina Abboud of NorthMarq arranged financing for the undisclosed borrower through its relationship with the Virginia Housing & Development Authority.

August 25, 2021

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