DENVER (October 9, 2018) – Jeff DeHarty, vice president of NorthMarq Capital’s Denver regional office, arranged acquisition financing of $5.34 million for Cherry Tree Apartments, a 49-unit multifamily property located in Denver, Colorado. The bridge loan was structured with a 2-year interest-only term. NorthMarq arranged financing for the borrower, Cherry Tree Apartments, LLC, through its relationship with Ladder Capital.
“NorthMarq Capital was pleased to be involved in securing acquisition financing for our client, The Situs Group,” said DeHarty. “Cherry Tree Apartments offers a significant value-add opportunity for our client, who has a successful track record of executing on similar multifamily repositionings.”