Multifamily

NorthMarq Capital arranges $16.1 million in acquisition financing for Oakridge Apartments in Phoenix, Arizona

PHOENIX (December 18, 2017) – Luke Donahue, senior vice president/senior director and James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix regional office, arranged acquisition financing of $16.1 million for Oakridge Apartments, a 282-unit multifamily property located at 3330 West Greenway Road in Phoenix, Arizona. The transaction was structured with a 7-year term with 3-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.