Multifamily

NorthMarq Capital’s Phoenix office arranges $29.8 million refinance of The Cove in Phoenix, Arizona

PHOENIX (August 14, 2017) – Luke Donahue, senior vice president/senior director of NorthMarq Capital’s Phoenix regional office and Scott Monroe, managing director of NorthMarq Capital’s Las Vegas regional office, negotiated the $29,800,000 refinance of The Cove, a 652-unit multifamily property located at 2545 N 83rd Ave Phoenix, Arizona. The transaction was structured with a 15-year loan term on a 30 year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company.

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.