PHOENIX – NorthMarq Capital’s Phoenix-based regional office, arranged a First Deed of Trust Construction Loan in the amount of $5 million for Escala Villas in Mesa, Arizona. This asset consists of 244 for-sale condominium units. Financing was based on a 5-year interest-only term. NorthMarq arranged this financing for the borrower through its relationship with a local bank. “The borrower’s experienced development team, combined with the lender’s expertise in this product type, enabled us to negotiate loan terms that will make this project a success,” Cooper said. “Timing could not have been better for this project in this strong East Valley location.”
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