NorthMarq Capital arranges $26 million in acquisition financing for Broadstone Twin Fields in Gilbert, Arizona
Broadstone Twin Fields
PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix based regional office arranged acquisition financing of $26 million for Broadstone Twin Fields, a 314 unit multifamily property located at 2505 E. Williams Field Road in Gilbert, Arizona. The transaction featured a low loan to value of 55% with a purchase price of $47,100,000. NorthMarq arranged financing for the borrower through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. “This was a highly sought after class “A” asset,” said DuMars. “The repeat sponsor had a vast array of financing options but in the end elected the certainty of execution and competitive terms of a low leverage Fannie Mae loan. It’s hard to compete with Fannie Mae on low leverage loans.”
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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.
