Senior Housing - Debt

NorthMarq Capital arranges permanent financing of $23.7 million for Colonial Gardens in Beverly, Massachusetts

DENVER (March 1, 2013) – NorthMarq’s Denver regional office completed a $23.7 million loan on Colonial, Gardens, a 173-unit independent living facility located in Beverly, Massachusetts outside of Boston. The property was recently completed and is 98% occupied. It is owned and operated by Hawthorn Retirement Group. Gordon Mickelson, Senior Vice President; and Brock Yaffe, Assistant Vice President; arranged the financing through one of NorthMarq’s correspondent life insurance companies.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.