April 4, 2013

NorthMarq Capital arranged $10.097 million mortgage for Legacy Village in Gilbert, Arizona

Legacy Village

Debt & Equity

Multi-Tenant

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.

Available Multifamily properties

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.