SAN FRANCISCO (January 31, 2017) – Dennis Williams, senior vice president/managing director of NorthMarq Capital’s San Francisco-based regional office, arranged acquisition financing of $10.6 million for The 500 Apartments, a 109-unit multifamily property located at 3440 South 500 East in Salt Lake City, Utah. The transaction was structured with a 7-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through Fannie Mae’s Green Rewards Program.
“The Fannie Mae Green Rewards program was a great fit for this acquisition transaction,” said Williams. “The Green Rewards financing reduced the borrower’s cost of capital, enabling them to invest in water-saving measures throughout the property that are environmentally friendly.”