NorthMarq Capital’s Denver office arranges $6,813,000 acquisition of Applegate Apartments in Swansea, Illinois
DENVER (May 25, 2017) Jeff DeHarty, vice president of NorthMarq Capital’s Denver regional office, negotiated the $6,813,000 acquisition of Applegate Apartments, an 108 unit multifamily property located at 1422 Cantwell Lane, Swansea Illinois. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower 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.
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