NorthMarq’s Phoenix office finalizes $2.507 million in acquisition financing for La Mesa Apartments in El Paso, Texas
La Mesa Apts
PHOENIX, ARIZONA (January 3, 2019) – James DuMars, senior vice president/managing director and Griffin Martin, vice president/senior producer arranged the $2.507 million acquisition loan for La Mesa Apartments, a 72-unit multifamily property located at 200 North Alto Mesa Drive in El Paso, Texas. The transaction was structured with a 7-year term with 2-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower via Freddie Mac’s SBL program.
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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.
