NorthMarq arranges acquisition financing of $9.2 million for The Ivy Off Central in Phoenix, Arizona
The Ivy Off Central
PHOENIX, ARIZONA (December 22, 2020) – Griffin Martin, senior vice president/managing director and James DuMars, senior vice president/managing director of NorthMarq’s Phoenix office secured acquisition financing of $9.2 million for The Ivy Off Central. The 80-unit multifamily property is located at 222 East Cody Drive in Phoenix, Arizona. The transaction was structured with a 10-year term with 5-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its status as a Freddie Mac Optigo lender.
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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.
