Northmarq arranges sale, financing for Casa Loma apartments in Santa Fe, NM

SANTE FE, N.M. — Northmarq’s Southwest Investment Sales team led by Jesse Hudson, Cynthia Meister, Logan Baca and Chris Michl, in collaboration with its Phoenix Debt + Equity team led by Brandon Harrington, Bryan Mummaw, Chris Gitibin, Bryan Liu and Tyler Woodard, successfully completed the sale and financing for Casa Loma, a 132-unit garden apartment community located at 100 Rio Vista Pl. in Santa Fe, New Mexico.

Northmarq represented the seller, Cooper Street Capital. The buyer was Investment Property Exchanges Services, as qualified intermediary for St. Vrain MHP, LLC.

“In a market defined by scarcity and character, Casa Loma stands apart, offering a legacy community with deep-rooted resident stability, compelling upside, and an irreplaceable location,” Hudson said. “The buyer was drawn to the opportunity for its durable in-place cash flow and clear, executable value-add potential, all within one of Santa Fe’s most supply-constrained and highly sought-after submarkets.”

Northmarq arranged permanent-fixed financing on behalf of the borrower, Investment Property Exchanges Services, as qualified intermediary for St. Vrain MHP, LLC, through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a 10-year term with full-term interest-only.

“It was a pleasure working with the borrower to close this financing,” Harrington said. “The property is a strong addition to his portfolio, and we were able to structure a long-term, fixed-rate loan that aligns well with his investment strategy.”

Built in 1964 and 1972, Casa Loma offers residents an irreplaceable multifamily opportunity with townhome-style layouts and expansive private yards rarely found in Santa Fe developments. It features five, two-story buildings sitting on 10.72 acres. Floorplans offer studio, one-, two- and three-bedroom options. Unit amenities a mix of classic, renovated and patio units with options for wood burning kiva fireplaces, spacious walk-in closets, carpeted bedrooms, upgraded bathrooms and kitchens, stainless steel appliances and tile showers.

Community amenities include a heated resort-style pool, community clubhouse with indoor kitchen, covered patio with firepit and BBQ grill, a laundry facility and a resident business center.

Casa Loma sits just off U.S. Hwy. 285 and is close to nearby shopping, food and entertainment options. It is roughly 1.5 miles from downtown Santa Fe.