Northmarq’s Phoenix office completes $11 million bridge loan for Sandalwood Square in Phoenix, Arizona
PHOENIX, ARIZONA (December 29, 2021) – Griffin Martin, senior vice president/managing director of Northmarq’s Phoenix debt/equity team, arranged a $11 million bridge loan for Sandalwood Square. The 67-unit multifamily property, built in 1967, is located at 4325 North 23rd Avenue in Phoenix, Arizona. The transaction was structured with a 3-year interest-only term. Northmarq arranged financing for the borrower, through its relationship with a bridge/mezzanine lender.
The property is located in Midtown Phoenix, which offers a plethora of shopping and retail destinations, such as Camelback Colonnade and Biltmore Fashion Park. The area also boasts numerous recreational activities at local parks, as well as the large Phoenix Mountains Preserve, only a short drive away. Commuters benefit from close proximity to major highways, and the light rail, making accessing downtown Phoenix and beyond simple.
Community amenities include: Laundry facilities, maintenance on site, property manager on site, trash pickup, online services, pet play area, public transportation, storage space, pool, playground, walking/biking trails, courtyard and grill. Apartment amenities include: High speed internet access, Wi-Fi, air conditioning, heating, ceiling fans, smoke free, cable ready, security system and wheelchair accessible rooms.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
