REBusinessOnline

NORTHMARQ ARRANGES $180M IN MORTGAGE FINANCING FOR APT COMMUNITIES

SAN FRANCISCO — Northmarq Capital has arranged $180 million in first mortgage financing for two San Jose, CA-based apartment buildings. The Woods is located at 4300 The Woods Dr., while Cherrywood Apartments is located at 4951 Cherry Ave. The two complexes boast a combined total of 2,369 units. The borrowers are The Woods, L.P. and Cherry Avenue Development Company, L.P. NorthMarq arranged the financing through its seller-servicer relationship with Freddie Mac. NorthMarq’s Mitch Thurston, senior vice president and managing director, and Andy Ahlers, vice president, arranged the financing. Thurston noted that this is a full-term, interest-only loan with an expansion option.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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