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Our Phoenix office offers investment sales expertise for multifamily and manufactured housing properties and a complete range of financing options for all types of commercial real estate. We serve the entire Southwestern region and can arrange commercial real estate loans for any property type through our unmatched network of lending partners. Call our local office to learn more.

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NorthMarq Multifamily expands manufactured housing team with addition of sales expert Chris Michl

NorthMarq Multifamily announced today that Chris Michl has joined its national manufactured housing team, which is based in Phoenix, Arizona.

In his new role at NorthMarq, Michl will use his business expertise to market manufactured housing communities and identify buyers and sellers of the asset class. He will also work to expand the team’s presence outside of its primary focus in the southwest.

Michl arrives at NorthMarq after five year in staffing/recruiting companies, where he facilitated staffing needs by identifying and recruiting talent. His experience includes developing strategic partnerships, assessing business requirements and analyzing client satisfaction.

“Chris is a great addition to our manufactured housing team,” said Trevor Koskovich, president – NorthMarq Multifamily. “With his diverse sales experience, he brings a great new perspective to our clients and our business.”

Michl graduated from the University of Iowa with a Bachelors in Business Management and is originally from the Chicago area.

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Phoenix Q3 Market Report: Apartment Rents Remain on an Upswing

Report highlights:

  • 3QResearchReport-PHX_Indicators_250pxConditions in the Phoenix multifamily market strengthened during the third quarter. Vacancy tightened and rents spiked. The investment market responded to the favorable fundamentals with an uptick in sales activity.
  • Vacancy in Phoenix fell 10 basis points during the third quarter, reaching 5.7 percent. The rate is unchanged from one year ago and has remained in a tight range since 2016.
  • Rents continue to rise at a rapid rate. Asking rents rose 1.8 percent from the second quarter to the third quarter, reaching $1,056 per month. Asking rents have surged 8 percent during the past 12 months.
  • Apartment deliveries have been on the rise, with more than 2,500 units coming online in the third quarter. Completions have topped 6,300 units year to date.
  • Investment conditions were mixed during the third quarter, with activity picking up as the median price crept lower. Cap rates have remained very consistent throughout the year, averaging 5.3 percent.

Download the full report here

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Tucson Q3 Market Report: Apartment Market Strengthens as Job Growth Gains Steam

Report highlights:

  • 3QResearchReport-Tucson_Indicators_250pxThe Tucson apartment market improved during the third quarter with vacancy dipping and rents posting strong gains. The market is being supported by an accelerating pace of employment growth.
  • Vacancy dipped by 30 basis points in the third quarter, ending the period at 6 percent. The current vacancy rate is 50 basis points lower than one year ago.
  • Asking rents posted another quarterly increase in excess of 2 percent. During the past 12 months, asking rents have spiked by 6.8 percent, reaching $767 per month.
  • Investment conditions cooled a bit during the third quarter with sales velocity slowing and the median price inching lower. Year to date, the median price is $50,000 per unit, while the average cap rate is just under 6 percent.

Download the full report here

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Commercial Executive Magazine features NorthMarq Multifamily $17 Million Sale as Deal of the Week

Commercial Executive Magazine interviewed Bill Hahn and Trevor Koskovich of NorthMarq Multifamily on the recent sale of Urban 188 Apartments. The 188-unit multifamily property, located at 1601 West Camelback Road in Phoenix, Arizona, sold this month for $17 million. The NorthMarq Multifamily team of Bill Hahn, Trevor Koskovich and Jesse Hudson represented both the seller and the buyer in this transaction.

Q: Location was a major component in this deal. What other factors played into the success of this transaction?

A: The fact that the property had just undergone a complete renovation, with all new HVAC units, kitchen appliances and flooring, among other systems. Also, easy light rail access encourages a young, upwardly-mobile tenant base.

Q: Urban 188 was a turn-key asset, does this type of property appeal to most of your investors?

A: Actually, no. Most buyers active today are looking for properties where they can add value by making physical improvements or management improvements, thereby increasing revenue. This particular buyer purchased Urban 188 because he believed in the organic rent growth that would come from the location and other factors mentioned in #1 above.

Hudson also noted that the property’s proximity to the light rail will likely improve property values as it encourages redevelopment and gentrification of the surrounding areas.

Urban 188 apartments, built in 1970, comprises 188-units situated on 22.30 acres. The community is a blend of 57 percent studios units, 42 percent one-bedroom, units and 1 percent two-bedroom units. The property, located on the south side Camelback Road east of 17th Avenue, is near manufacturing and warehousing employment along Interstate 17. Urban 188 is also located along the Metro light rail line with a station located just two blocks west at the intersection of 19th Avenue and Camelback Road, providing easy access to downtown Phoenix, Tempe and Mesa.  The immediate neighborhood surrounding Urban 188 comprises a mixture of single-family homes, multifamily projects, and commercial developments.

Urban 1601 Property LLC, of Phoenix, Arizona, was the buyer. 1601 W. Camelback Rd. LLC, of Las Vegas, Nevada, was the seller.

See the full story here.

The 188-unit Urban 188 apartments is located at 1601 West Camelback Road in Phoenix, Arizona

The 188-unit Urban 188 apartments is located at 1601 West Camelback Road in Phoenix, Arizona

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Koskovich joins panel at InterFace Phoenix Multifamily Conference

Trevor Koskovich, leader of our investment sales business, is among the experts that will share insights into the current state of the market and where it’s going in the next 12 months at the InterFace Phoenix Multifamily conference on September 11.

Expert Insights: Trevor Koskovich, InterFace Phoenix Multifamily Conference, September 11, 2018

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Hahn, Koskovich recognized as Broker Team of the Month in Commercial Executive Magazine

NorthMarq Multiifamily’s Bill Hahn and Trevor Koskovich were recently recognized as Broker Team of the Month in the July/August issue of Commercial Executive Magazine. The team’s submission was prepared and presented by Willmeng Construction. Partners since 2007, multifamily professionals Bill Hahn and Trevor Koskovich have been riding the highs and lows of the Valley’s commercial real estate market for more than a decade. “I remember meeting Trevor for the first time over a lunch in Old Town Scottsdale,” Hahn recalls. “We hit it off and we had a plan.”

Starting Points

Early in 2018, Hahn and Koskovich moved their entire 10-team member operation from Colliers to NorthMarq Capital. The firm is an industry leader in commercial real estate finance with annual production volume of $13 billion and a loan-servicing portfolio of $52 billion on behalf of more than 50 institutional investors and the government-sponsored entities (GSE’s). “We realized this would be a good alliance,” says Koskovich, President of newly created NorthMarq Multifamily Investment Sales group. “We each had what the other wanted.”


Hahn, Executive Vice President of NorthMarq Multifamily Investment Sales, and Koskovich, came to the commercial real estate industry on vastly different paths. “I entered the business with Marcus & Millichap in the early 1980s,” says Hahn. Koskovich, on the other hand, entered the arena with an entrepreneurial energy, having sold two companies he started. “I believed commercial real estate would be a great industry for me,” he says. “I interviewed every firm in town to fi nd out which would be the best fit.” Sperry Van Ness proved the right launching pad for Koskovich. “I knew that working with Bill was ultimately going to offer me the most opportunity and room to grow,” he says. At 27, Koskovich had little idea of the obstacles looming on the horizon. “The market was ready to fall off a cliff. I recall the best advice I gave him,” says Hahn. “He told me, stop talking to owners of commercial real estate and start talking with the lenders,” says Koskovich.

Read what led the Multifamily team to NorthMarq and how they  plan on paving the road going forward!

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Phoenix Rising: James DuMars and Jesse Hudson featured in Western Real Estate Business

These days, it is more than just the temps that are white hot in Phoenix. Competition among both buyers and lenders is heating up in the Phoenix apartment market.

Transaction volume is down from levels set in 2016, but demand is stronger than ever with a record high level of buyers and capital in the market. The common complaint is that there are more buyers than there are for-sale properties.

It is not unusual to have eight to 12 qualified bidders on a deal – twice the number that existed a few years ago. NorthMarq recently brokered a 200-unit, Class C, value-add sale in Phoenix that drew 12 offers with five going into a best and final. At the end, there were four very credit-worthy bidders who all had offers in within $100,000. The financing available for the acquisition was a 10-year fixed rate of 4.40 percent, 75 percent LTV and an initial five-year, interest only.

The main driver behind this appetite for apartments is that buyers see a good growth story. Phoenix has come a long way since its housing bubble burst more than a decade ago. The metro is enjoying strong employment and job growth with more than 50,000 plus jobs being created and 80,000-plus new residents moving to the area annually.

Read why the Phoenix market will remain incredibly competitive for both lenders and investors here.

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Phoenix Office Multifamily Financing

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Phoenix Office Commercial Financing

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NorthMarq Multifamily featured in GlobeSt.com’s Middle Market Digest

Bill Hahn, Trevor Koskovich and Jesse Hudson of NorthMarq Multifamily in Phoenix and Cynthia Meister of NorthMarq Multifamily in Albuquerque negotiated the sale of Lincoln Heights Apartments in Albuquerque, New Mexico. The transaction was featured in GlobeSt.com’s Middle Market Digest. The 184-unit multifamily property sold for an undisclosed purchase price. The NorthMarq Multifamily team represented the buyer and seller in the transaction. Read the full transaction announcement.

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Phoenix office recognizes long-standing relationship with developer/redeveloper and philanthropist, Michael Pollack

NorthMarq Capital’s James DuMars recently celebrated his office’s decade-long relationship with Phoenix area developer/redeveloper and philanthropist, Michael Pollack. After more than 20 years (and 100+ transactions) of working together, DuMars noted “Michael is a very loyal man, you can’t take a relationship like that for granted. We have a wonderful business relationship built on honesty and respect.” Read the full story here.

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James DuMars featured in National Real Estate Investor


James DuMars addressed hot-topic items in the retail sector in a recent National Real Estate Investor article titled “Lenders Still Willing to Finance Retail, but Be Prepared for Extra Security.”

The article covers how it’s not entirely business as usual in a retail sector that’s been hit by a double whammy of rising e-commerce sales and shifting consumer shopping patterns. Check out the full story here.

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James DuMars featured in Commercial Executive Magazine

James DuMars authored a featured article in Commercial Executive Magazine titled “Let the Good Times Roll.” In the story, DuMars highlights the annual CREF conference, as well as hitting on high-interest topics including: debt funds gearing up to fund construction/JV Equity/mezzanine loans, securitization, CMBS trends, life companies and agencies. See the full story here.

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Local Office Overview

Click image to download PDF

Click image to download PDF

The Phoenix office of NorthMarq Capital was established over three decades ago. During this period we’ve assisted our clients with several billion dollars in financing transactions. Download this two-page flyer to learn more about the Phoenix office. For an extensive list of recently completed Phoenix office transactions, click here.

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