NorthMarq Capital arranges two multifamily loans for $33.12 million
Heights on Huron & Knoll Crest Apts
DENVER (November 25, 2013) – John M. Stewart, senior vice president of NorthMarq’s Denver regional office arranged transactions for two properties, Heights on Huron and Knoll Crest Apartments, for a total of $33.12 million in financing. - Heights on Huron, located at 10648 Huron Street in Northglenn, Colorado, is a conventional market, multi-family community that consists of 252 units contained in 21 residential buildings. Acquisition financing of $13.12 million was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac. The community’s amenities include three outdoor heated swimming pools, laundry rooms, BBQ area, a playground and easy access to Hugh Danahy Park and a lake across the street. Units feature area conditioning and walk-in closets. “The borrower is an experienced Denver-based commercial real estate developer and investor for whom NorthMarq has arranged other loans,” said Stewart. -Knoll Crest Apartments, located 207 George Street, Middleton, Connecticut, was refinanced for $20 million. The conventional market, multi-family community consists of 156 units contained in five, three-story residential buildings. Property amenities include a clubhouse and a heated outdoor swimming pool. Units feature stainless steel appliances, washer/dryer, and fireplaces in select units, nine foot ceilings and patios.
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.
