NorthMarq Capital’s Phoenix office arranges acquisition financing of $2.465 million for Comfort Inn & Suites in Lordsburg, New Mexico
Comfort Inn & Suites
PHOENIX – Griffin Martin, vice president of NorthMarq Capital’s Phoenix based regional office arranged acquisition financing of $2.465 million for a 64-unit Comfort Inn & Suites property located at 400 Wabash Street in Lordsburg, New Mexico. NorthMarq arranged financing for the borrower through its relationship with a regional bank. “We provided high-leverage financing for both the acquisition and property improvements,” said Martin. “In addition to the high-leverage request, we also had to complete the transaction in a very short timeframe while exceeding the borrower’s interest rate expectations.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
