NorthMarq’s Salt Lake City office arranges acquisition financing of $8 million for Newpark Flats in Park City, Utah
SALT LAKE CITY, UTAH (December 10, 2019) – Larry Pinnock, vice president of NorthMarq’s Salt Lake City team arranged secured acquisition financing of $8 million for Newpark Flats. The multifamily property is located at 6033 Park Lane South in Park City, Utah.
Financing Details:
- Permanent-fixed loan
- NorthMarq arranged financing for the borrower through its relationship with a CMBS lender.
Property Details:
- The property, built in 2018, contains 43 units.
- Property amenities include: Pet friendly policy, washer/dryer in unit, air conditioning, heating, fireplace, 1-assigned parking space, fitness center, vinyl flooring, laundry facilities, granite countertops, stainless steel appliances, kitchen, oven and range.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
