NorthMarq Capital arranges acquisition financing of $10.6 million for multifamily in Salt Lake City, Utah via Fannie Mae’s Green Rewards Program
The 500 Apts
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.”
Meet our team
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
