Multifamily - Debt

NorthMarq Capital

NorthMarq Capital arranges acquisition financing of $5.34 million for Cherry Tree Apartments in Denver, Colorado

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.” 

 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.