PHOENIX, ARIZONA (July 14, 2021) – NorthMarq’s Phoenix investment sales team of Trevor Koskovich, Bill Hahn, Jesse Hudson, and Ryan Boyle ended the second quarter of 2021 closing 15 unique multifamily transactions with a combined sales volume of $419,715,000. Additionally, NorthMarq’s debt and equity team financed nine of the fifteen transactions with combined loan amounts of $280,453,537.
“We are continuing to grow the NorthMarq brand, we have opened several new offices and we hope to continue the momentum throughout the year with an even more successful third and fourth quarters,” said Trevor Koskovich, President of Investment Sales with NorthMarq.
“Out of state investors, particularly investors from the West Coast, continue to see the potential of the multifamily family market in Phoenix. Between job growth, new developments and the cost of the living, Phoenix is the ideal location for buyers to receive tremendous returns on their investments.”
Notable transactions included:
- Glen Arbor, an 87-unit apartment property located in Phoenix, which was acquired for $11.25 million with a bridge loan of $10.152 million.
- Vibe on Thomas, a 100-unit multifamily property located in Phoenix, AZ. NorthMarq originated the $11.91 million bridge loan.
- Revival on 7th, a 67-unit garden-style apartment property located in Phoenix, AZ sold for $9.725 million.
- Danbury Residences, A 17-unit Single Family Detached Home Community located in Phoenix, AZ transacted at $7.3 million.
- Summerhill Place, a 232-unit property located in Glendale and Villas at Montebello, a 100-unit apartment located in Peoria sold to the same buyer and was financed with a bridge loan for a combined loan of $47.15 million.
- Christopher Todd Communities at Mountain View, a 217-unit a premier single-family rental located in Surprise, AZ transacted north of $295,000/unit.
- Terrace Park, a 213 unit in Phoenix, AZ traded at $37.6 million at 80% loan to cost.
- Revival on Indian School, 96-units in Phoenix, AZ was acquired for $18.4 with a $14.885 million debt fund loan
- Desert Gardens, A 307-unit in Glendale sold for $47.5 million with 80% loan to cost
- Solano Pines, a 108-unit in Phoenix was sold for $22 million ($203,740 per unit) and financed with bridge debt
- Station 19, a 61-unit garden-style community sold for $213,000 per unit.
- IVilla, a 214-unit apartment located in Phoenix was acquired for $30 million.
- Arcadia Walk, a 148-unit complex located in Phoenix was financed with a floating rate through Freddie Mac at $32.7 million.