NorthMarq’s San Diego and Phoenix offices complete $11.625 million refinance of Galeria De Coronado in Sierra Vista, Arizona
SAN DIEGO, CALIFORNIA (October 6, 2020) – Wyatt Campbell, vice president in NorthMarq’s San Diego office collaborated with James DuMars and Griffin Martin, managing directors in NorthMarq’s Phoenix office, to arrange the $11,625,000 refinance of Galeria De Coronado. The 90-unit multifamily property is located at 1016 Sentinel Peak Road in Sierra Vista, Arizona. The transaction was structured with a 10-year term with 3-years of interest-only, followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Optigo status as a Freddie Mac lender.
“This asset is an excellent addition to our client's growing Southern Arizona portfolio," said Campbell. “Freddie Mac won the business due to their competitive rate and ability to maximize proceeds despite the ongoing challenges presented by the COVID-19 pandemic."
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