NorthMarq Capital arranges two multifamily loans for $33.12 million

Heights on Huron & Knoll Crest Apts
29d944ea-a1bb-4dd7-a709-347975ecd06f
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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

Image
NM Web Icon News Black

Stay on top of industry research