NorthMarq Arranges $65.1M Refinancing for Summerly at Zanjero Apartments in Glendale, Arizona
GLENDALE, ARIZ. — NorthMarq has arranged $65.1 million for the cash-out refinancing of Summerly at Zanjero Apartments in Glendale. Brandon Harrington and Tyler Woodard of NorthMarq’s Phoenix Debt and Equity team executed the permanent, floating-rate loan through Freddie Mac for the undisclosed borrower. The loan features a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule.
Built in 2019, Summerly at Zanjero features 340 apartments in a mix of one-, two- and three-bedroom layouts. The property located is within minutes of Westgate Entertainment District and State Farm Stadium.