DENVER (June 19, 2017) Jeff DeHarty, vice president of NorthMarq Capital’s Denver regional office, negotiated the $6,813,000 acquisition debt financing for Applegate Apartments & Townhomes, a 108-unit multifamily property located at 1452 Cantwell Lane, Swansea Illinois. The $6,813,000 transaction was structured with debt financing a 10-year term on a 30-year amortization schedule. NorthMarq arranged this financing for its Denver-based client, Gold Block Ventures, through its relationship with Fannie Mae.
“Applegate Apartments is a well-built asset that was constructed in phases between 2002-2011. The quality construction and attention to detail by the developer was evident to our borrower. Additionally, the borrower was able to obtain Green Globes certification for the property, thus strategically qualifying for a substantial spread reduction from Fannie Mae.” said DeHarty.