Multifamily - Debt, Sale

NorthMarq arranges sale and financing for the HUE97 Apartments in Mesa, Arizona

PHOENIX, ARIZONA (January 11, 2021) – NorthMarq’s Phoenix investment sales team of Trevor Koskovich, president, Bill Hahn, executive vice president, Jesse Hudson, senior vice president, and Ryan Boyle, senior associate brokered the sale of the HUE97 Apartments on January 7. The 184-unit multifamily property is located at 9736 East Balsam Avenue in Mesa, Arizona. NorthMarq represented both the buyer, Colrich Group, Inc. and the seller, Dominium Group, Inc. 

“HUE97 was a highly sought-after asset with more than 17 unique property tours and 15 offers,” said Hudson. “Ultimately the buyer was chosen due to their competitive terms, non-refundable earnest money, and credible resume.” 

NorthMarq’s San Diego debt and equity team of Steve Hollister, senior vice president and Aaron Beck, vice president, financed the acquisition with a $32,060,000 Freddie Mac loan structured with a 15-year term and 7-years of interest only at 3 percent. 

HUE97 is a recently repositioned asset with over $5 million invested into capital improvements and interior and exterior renovations in the last two years. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.