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SANTA CLARA, CALIF. — NorthMarq Capital has arranged $134 million in financing for two apartment communities in Santa Clara. The communities consist of the 340-unit Orchard Glen located at 101 Saratoga Ave. and the 173-unit Park Central located at 1050 Benton St.
The transactions were structured on 10-year interest-only terms. NorthMarq arranged the financing on behalf of Prometheus Real Estate Group through its correspondent relationship with a life insurance company.