Multifamily
Debt & Equity

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 is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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Cherry Tree Apts
Bridge Loan
$5,340,000