NorthMarq Capital arranged $10.097 million mortgage for Legacy Village in Gilbert, Arizona
Legacy Village
SAN DIEGO (April 4, 2013) – Gardiner Champlin and Marty Meagher, senior vice presidents and managing directors of NorthMarq’s San Diego regional office, arranged first mortgage acquisition financing of $10.097 million for Legacy Village, a 120-unit market-rate two and three story garden apartment complex located in Gilbert, Arizona. Financing was based on a 10-year term with two years interest-only followed by a 30-year amortization schedule thereafter. NorthMarq arranged this financing for the borrower, The Reserve at Gilbert Towne Centre, LLC, through its seller-servicer relationship with Freddie Mac. “This repeat borrower transaction was executed smoothly by Freddie Mac to achieve purchase closing and loan funding on the required target date,” said Champlin.
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.
